Aims Apac Reit

DPU of 2.5 cents .

XD 12 Nov 2019.
Pay date 20 Dec 2019.

Net property income for the quarter stood at S$22.5 million, or S$0.5 million lower than the
preceding quarter, due to higher property operating expenses.

The Manager’s Chief Executive Officer, Koh Wee Lih, said, “Our strategy of active portfolio
management has delivered another quarter of stable distribution despite the challenging
operating environment. This quarter we successfully completed the strategic acquisition of
Boardriders Asia Pacific HQ and continued to progress the asset enhancement initiative at
NorthTech. We will continue to pursue opportunities to grow the portfolio, unlock value and
future-proof AA REIT, in line with our strategy.”
During the quarter, the Manager successfully executed 27 new and renewal leases
representing 65,450 sqm (10.1% of total net lettable area). Portfolio occupancy decreased
slightly to 92.2%, as compared to 94.4% in the preceding quarter mainly due to the transition
of master leases to multi-tenancy leases at some properties.
The Manager also announced the completion of the Boardriders Asia Pacific HQ acquisition
on 15 July 2019, resulting in revenue contribution from the property for part of 2Q FY2020.

In addition, on 18 July 2019, the Manager announced it had successfully secured a master
tenant for the 3 Tuas Avenue 2 property which is currently under redevelopment. The master
tenant, a global medical device company with headquarters in USA, will occupy the entire
premises and has committed to a 10-year master lease on a triple net lease basis