Sentral-REIT’s income down 2.9% in first quarter

SRM CEO Derek Teh said Sentral-REIT had approximately 511,000 sq ft, or 28% of its total committed net lettable area due for renewal in 2022, with 5% of these leases due in 1Q22. The trust achieved a renewal rate of 56% for these leases due in 1Q22.

PETALING JAYA: Sentral Real Estate Investment Trust (REIT) has posted a lower net property income of RM30.5mil for the first quarter ended March 31, 2022 (1Q22), down 2.9% compared with RM31.4mil in 1Q21.

Correspondingly, the REIT, previously known as MRCB-Quill-REIT, saw its earnings per unit or EPU and distributable income per unit of 1.90 sen for 1Q22, compared with 1.93 sen in 1Q21