ASX-listed childcare centre landlord Arena REIT upgraded its full-year distribution guidance on Friday as it ramped up acquisitions and as rising inflation boosted rental growth across its 228 centres.
The trust – which has the majority of its tenants on very long lease agreements where rents rise either by a fixed amount (2.5 per cent) or inflation, whichever is greater – forecast a full-year distribution of 16¢. That’s up 1.3 per cent from earlier guidance of 15.8¢, and 8 per cent higher than the prior financial year.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
