OUE REIT posts $57.6m Q1 NPI, up 8.4% on hospitality gains
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OUE Real Estate Investment Trust (OUE REIT) reported a net property income (NPI) of $57.6 million for Q1 2026, an 8.4% increase YoY, driven by strong hospitality performance and lower finance costs. Revenue rose 6.7% YoY to $70.5 million, with hospitality revenue up 15.1%. The REIT acquired a 19.9% stake in Salesforce Tower, Sydney, for $319.8 million and received planning approval for office space conversion at OUE Bayfront. Aggregate leverage was 41.5%, with a weighted average cost of debt at 3.7%.
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