Key Points
- DPU of 2.38 cents for the reporting quarter.
- For 4Q 2010, PLife REIT registered a 21.1% increase in gross revenue from S$17.7 million in the previous corresponding period (“4Q 2009”) to S$21.5 million. This was primarily due to the full quarter revenue contribution amounting to S$0.9 million from the eight Japan nursing home properties acquired in November 2009, and recognition of revenue contribution amounting to S$2.5 million from the 11 Japan nursing home properties acquired in June and July 2010.
- Acquisition of yield-accretive nursing home in Japan. The Property, named “Fukufuku-kan”, will be acquired at a purchase price of JPY564 million (approximately S$8.9 million) from KK Sawayaka Club, the largest private nursing home operator in Kyushu Island.The acquisition is expected to be completed by 31 January 2011, and will be fully funded by a long-term unsecured committed term loan facility due in June 2015.
- The Books will close from 5pm on 1 Feb 2011 for the purpose of determining Unitholders’ entitlement to the distribution.
- The distribution will be paid on 28 February 2011.
- Gearing of 34.6% as at 31 December 2010.
The DPU for the reporting quarter is 2.38 cents and will be paid on 28 February 2011. Books closure is on 1Feb 2011.
The DPU was 2.25 cents in the previous quarter.
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