Parkway Life REIT’s 1H15 Distributable Income Up 14.8% To $39.7 Million

Parkway Life REIT announced revenue of $50.4 million, a marginal increase of 1 percent from the same period last year, while income available for distribution grew 14.8 percent to $39.7 million.

The revenue growth was mainly due to contribution from properties acquired in 1Q14, the trust’s asset recycling initiative, and higher rent from the existing properties offset by the depreciation of the Japanese yen.

Overall, annualised distribution per unit was 13.12 cents outperforming 1H14 by 14.8 percent, mainly due to capital distribution of $4.6 million being partial distribution of the gains arising from the divestment of seven Japan properties in December 2014 and higher rent from existing properties.

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