First Real Estate Investment Trust ('"First REIT") announced a good set of Q1 2018 financial results. It has an excellent management team and Sponsor.
Property revenue increased 5.8% to S$28.7 million while coming off the recent acquisition exercise in Q4 2017. There were additional financial contributions from Siloam Hospitals Buton & Lippo Plaza Buton and Siloam Hospitals Yogyakarta. In addition, there were also improvements in rental income from existing properties of First REIT in Indonesia and Singapore.
I have always love First REIT management team for their long-term strategy of making yield accretive acquisitions which has allowed First REIT to grow its returns steadily over the years.
Steady Pom Pi Pi First REIT! Way to go for 2018!
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