LREIT's NPI down 53.3% to $7.51m from IPO forecast

Uploaded By:  Nathanielle Punay Submitted By:  Nathanielle Punay Case Study:  No It posted lower revenue on the back of lower rental income from 313@somerset. Lendlease Global Commercial REIT (LREIT) saw its net property income plunge 53.3% to $7.51m in Q2 from its IPO forecast of $5.42m, an announcement revealed. Likewise, revenue crashed 42.1% YoY to $12.46m. The lower revenue came on the back of lower rental income from 313@somerset in Q4 2019 due to the implementation of relief measures and rent waivers provided to retail tenants. The impact was cushioned by the stable revenue contributed by Sky Complex. read more