Prime US ReitUSD OXMU
Financials
PRIME US REIT Annual Report 2025
Explore the statements
41 tablesStatements of Financial Position
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Trust | 2024Trust | Source |
|---|---|---|---|---|---|
| Current assets | |||||
| Cash and cash equivalentsUS$’000 | 31,030 | 27,485 | 807 | 4,430 | PDF p. 134 |
| Trade and other receivablesUS$’000 | 3,247 | 3,281 | 167 | 228 | PDF p. 134 |
| Prepaid expensesUS$’000 | 3,384 | 1,527 | 1 | 1 | PDF p. 134 |
| Derivative assetsUS$’000 | 2,474 | 7,291 | – | – | PDF p. 134 |
| SubtotalUS$’000 | 40,135 | 39,584 | 975 | 4,659 | PDF p. 134 |
| Non-current assets | |||||
| Investment propertiesUS$’000 | 1,399,600 | 1,352,070 | – | – | PDF p. 134 |
| Derivative assetsUS$’000 | – | 3,038 | – | – | PDF p. 134 |
| Investment in subsidiariesUS$’000 | – | – | 756,852 | 712,317 | PDF p. 134 |
| SubtotalUS$’000 | 1,399,600 | 1,355,108 | 756,852 | 712,317 | PDF p. 134 |
| Assets | |||||
| Total assetsUS$’000 | 1,439,735 | 1,394,692 | 757,827 | 716,976 | PDF p. 134 |
| Current liabilities | |||||
| Trade and other payablesUS$’000 | 30,723 | 26,311 | 1,100 | 940 | PDF p. 134 |
| Amount due to related partiesUS$’000 | 1,749 | 566 | 1,844 | 655 | PDF p. 134 |
| Loans and borrowingsUS$’000 | 66,877 | – | – | – | PDF p. 134 |
| Rental security depositsUS$’000 | 458 | 454 | – | – | PDF p. 134 |
| Rent received in advanceUS$’000 | 8,464 | 8,764 | – | – | PDF p. 134 |
| SubtotalUS$’000 | 108,271 | 36,095 | 2,944 | 1,595 | PDF p. 134 |
| Non-current liabilities | |||||
| Loans and borrowingsUS$’000 | 571,142 | 637,266 | – | – | PDF p. 134 |
| Rental security depositsUS$’000 | 5,314 | 4,830 | – | – | PDF p. 134 |
| Preferred sharesUS$’000 | 125 | 125 | – | – | PDF p. 134 |
| SubtotalUS$’000 | 576,581 | 642,221 | – | – | PDF p. 134 |
| Liabilities | |||||
| Total liabilitiesUS$’000 | 684,852 | 678,316 | 2,944 | 1,595 | PDF p. 134 |
| Net assets | |||||
| Net assets attributable to UnitholdersUS$’000 | 754,883 | 716,376 | 754,883 | 715,381 | PDF p. 134 |
| Represented by | |||||
| Unitholders’ fundsUS$’000 | 754,883 | 716,376 | 754,883 | 715,381 | PDF p. 134 |
| Units in issue and to be issued (’000)’000 Units | 1,437,458 | 1,308,259 | 1,437,458 | 1,308,259 | PDF p. 134 |
| Net asset value per Unit (US$) attributable to UnitholdersUS$ per Unit | 0.53 | 0.55 | 0.53 | 0.55 | PDF p. 134 |
Definitions & sources
Original report: PDF p. 134 ↗
Consolidated Statement of Comprehensive Income
17 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| Gross revenueUS$’000 | 133,304 | 140,963 | PDF p. 135 |
| Property operating expensesUS$’000 | (64,052) | (64,988) | PDF p. 135 |
| Net property incomeUS$’000 | 69,252 | 75,975 | PDF p. 135 |
| Expenses | |||
| Manager’s base feeUS$’000 | (3,329) | (4,242) | PDF p. 135 |
| Manager’s performance feeUS$’000 | (1,239) | – | PDF p. 135 |
| Trustee’s feeUS$’000 | (182) | (182) | PDF p. 135 |
| Other trust expensesUS$’000 | (2,345) | (2,235) | PDF p. 135 |
| Net fair value change in derivativesUS$’000 | (7,855) | (8,091) | PDF p. 135 |
| Finance expensesUS$’000 | (41,338) | (36,035) | PDF p. 135 |
| Income | |||
| Finance incomeUS$’000 | 129 | 670 | PDF p. 135 |
| Net income before tax and fair value change in investment propertiesUS$’000 | 13,093 | 25,860 | PDF p. 135 |
| Net fair value change in investment propertiesUS$’000 | 7,442 | (15,063) | PDF p. 135 |
| Loss on disposal of investment propertyUS$’000 | – | (2,627) | PDF p. 135 |
| Net income for the year before taxUS$’000 | 20,535 | 8,170 | PDF p. 135 |
| Tax expenseUS$’000 | (204) | (121) | PDF p. 135 |
| Net income for the year attributable to UnitholdersUS$’000 | 20,331 | 8,049 | PDF p. 135 |
| Earnings per Unit | |||
| Basic and dilutedUS cents per Unit | 1.52 | 0.62 | PDF p. 135 |
Definitions & sources
Original report: PDF p. 135 ↗
Consolidated Distribution Statement
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Distribution reconciliation | |||
| Income available for distribution to Unitholders at beginning of the yearUS$’000 | 1,621 | 3,011 | PDF p. 136 |
| Income available for distribution to Unitholders for the year | |||
| Net income for the yearUS$’000 | 20,331 | 8,049 | PDF p. 136 |
| Distribution adjustments (Note A)US$’000 | 8,395 | 30,126 | PDF p. 136 |
| Distribution reconciliation | |||
| Income available for distributionUS$’000 | 28,726 | 38,175 | PDF p. 136 |
| Amount retained (1)US$’000 | (20,423) | (34,237) | PDF p. 136 |
| Distribution reconciliation; after amount retained | |||
| SubtotalUS$’000 | 8,303 | 3,938 | PDF p. 136 |
| Distributions to Unitholders | |||
| Distribution of US 0.25 cents per Unit for the period from 1 July 2023 to 31 December 2023US$’000 | – | (2,974) | PDF p. 136 |
| Distribution of US 0.18 cents per Unit for the period from 1 January 2024 to 30 June 2024US$’000 | – | (2,354) | PDF p. 136 |
| Distribution of US 0.11 cents per Unit for the period from 1 July 2024 to 31 December 2024US$’000 | (1,439) | – | PDF p. 136 |
| Distribution of US 0.12 cents per Unit for the period from 1 January 2025 to 30 June 2025US$’000 | (1,570) | – | PDF p. 136 |
| Distribution of US 0.24 cents per Unit for the period from 1 July 2025 to 5 October 2025US$’000 | (3,140) | – | PDF p. 136 |
| Distributions to Unitholders; total | |||
| SubtotalUS$’000 | (6,149) | (5,328) | PDF p. 136 |
| Distribution reconciliation | |||
| Income available for distribution to Unitholders at end of the year after retentionUS$’000 | 3,775 | 1,621 | PDF p. 136 |
| Per-Unit distributions | |||
| Distribution per Unit (DPU)US cents per Unit | 0.61 | 0.29 | PDF p. 136 |
| Note A — Distribution adjustments | |||
| Property related non-cash items (2)US$’000 | 1,781 | 834 | PDF p. 136 |
| Trustee’s feeUS$’000 | 182 | 182 | PDF p. 136 |
| Amortisation of debt-related transaction costsUS$’000 | 5,432 | 2,968 | PDF p. 136 |
| Net change in fair value of derivativesUS$’000 | 7,855 | 8,091 | PDF p. 136 |
| Net change in fair value of investment propertiesUS$’000 | (7,442) | 15,063 | PDF p. 136 |
| Loss on disposal of investment propertyUS$’000 | – | 2,627 | PDF p. 136 |
| Others (3)US$’000 | 587 | 361 | PDF p. 136 |
| SubtotalUS$’000 | 8,395 | 30,126 | PDF p. 136 |
Definitions & sources
Original report: PDF p. 136 ↗
The report states that the amount distributed is below 90% of annual distributable income and describes the use of the retained amount. Note A adjustments and note definitions are recorded in source notes.
DPU is US cents per Unit; the other monetary rows are US$’000.
Statements of Changes in Unitholders’ Funds — Group FY2025
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; Units in issue and to be issued | 2025Group; Retained earnings | 2025Group; Total | Source |
|---|---|---|---|---|
| Opening balance | ||||
| At 1 January 2025US$’000 | 915,190 | (198,814) | 716,376 | PDF p. 137 |
| Operations | ||||
| Net income for the yearUS$’000 | – | 20,331 | 20,331 | PDF p. 137 |
| Increase in net assets resulting from operationsUS$’000 | – | 20,331 | 20,331 | PDF p. 137 |
| Unitholders’ transactions | ||||
| Issuance of new UnitsUS$’000 | 25,000 | – | 25,000 | PDF p. 137 |
| Issue costsUS$’000 | (675) | – | (675) | PDF p. 137 |
| Distribution to UnitholdersUS$’000 | – | (6,149) | (6,149) | PDF p. 137 |
| Increase/(Decrease) in net assets resulting from Unitholders’ transactionsUS$’000 | 24,325 | (6,149) | 18,176 | PDF p. 137 |
| Closing balance | ||||
| At 31 December 2025US$’000 | 939,515 | (184,632) | 754,883 | PDF p. 137 |
Definitions & sources
Original report: PDF p. 137 ↗
The source displays the three component columns (Units in issue and to be issued, Retained earnings, Total). Each year is represented separately to preserve the component columns.
Statements of Changes in Unitholders’ Funds — Group FY2024
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group; Units in issue and to be issued | 2024Group; Retained earnings | 2024Group; Total | Source |
|---|---|---|---|---|
| Opening balance | ||||
| At 1 January 2024US$’000 | 915,785 | (202,130) | 713,655 | PDF p. 137 |
| Operations | ||||
| Net income for the yearUS$’000 | – | 8,049 | 8,049 | PDF p. 137 |
| Increase in net assets resulting from operationsUS$’000 | – | 8,049 | 8,049 | PDF p. 137 |
| Unitholders’ transactions | ||||
| Distributions to UnitholdersUS$’000 | (595) | (4,733) | (5,328) | PDF p. 137 |
| Decrease in net assets resulting from Unitholders’ transactionsUS$’000 | (595) | (4,733) | (5,328) | PDF p. 137 |
| Closing balance | ||||
| At 31 December 2024US$’000 | 915,190 | (198,814) | 716,376 | PDF p. 137 |
Definitions & sources
Original report: PDF p. 137 ↗
The source displays the three component columns (Units in issue and to be issued, Retained earnings, Total). Each year is represented separately to preserve the component columns.
Statements of Changes in Unitholders’ Funds — Trust FY2025
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Trust; Units in issue and to be issued | 2025Trust; Retained earnings | 2025Trust; Total | Source |
|---|---|---|---|---|
| Opening balance | ||||
| At 1 January 2025US$’000 | 915,190 | (199,809) | 715,381 | PDF p. 138 |
| Operations | ||||
| Net income for the yearUS$’000 | – | 21,326 | 21,326 | PDF p. 138 |
| Increase in net assets resulting from operationsUS$’000 | – | 21,326 | 21,326 | PDF p. 138 |
| Unitholders’ transactions | ||||
| Issuance of new UnitsUS$’000 | 25,000 | – | 25,000 | PDF p. 138 |
| Issue costsUS$’000 | (675) | – | (675) | PDF p. 138 |
| Distribution to UnitholdersUS$’000 | – | (6,149) | (6,149) | PDF p. 138 |
| Increase/(Decrease) in net assets resulting from Unitholders’ transactionsUS$’000 | 24,325 | (6,149) | 18,176 | PDF p. 138 |
| Closing balance | ||||
| At 31 December 2025US$’000 | 939,515 | (184,632) | 754,883 | PDF p. 138 |
Definitions & sources
Original report: PDF p. 138 ↗
The source displays the three component columns (Units in issue and to be issued, Retained earnings, Total). Each year is represented separately to preserve the component columns.
Statements of Changes in Unitholders’ Funds — Trust FY2024
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Trust; Units in issue and to be issued | 2024Trust; Retained earnings | 2024Trust; Total | Source |
|---|---|---|---|---|
| Opening balance | ||||
| At 1 January 2024US$’000 | 915,785 | (203,001) | 712,784 | PDF p. 138 |
| Operations | ||||
| Net income for the yearUS$’000 | – | 7,925 | 7,925 | PDF p. 138 |
| Increase in net assets resulting from operationsUS$’000 | – | 7,925 | 7,925 | PDF p. 138 |
| Unitholders’ transactions | ||||
| Distributions to UnitholdersUS$’000 | (595) | (4,733) | (5,328) | PDF p. 138 |
| Decrease in net assets resulting from Unitholders’ transactionsUS$’000 | (595) | (4,733) | (5,328) | PDF p. 138 |
| Closing balance | ||||
| At 31 December 2024US$’000 | 915,190 | (199,809) | 715,381 | PDF p. 138 |
Definitions & sources
Original report: PDF p. 138 ↗
The source displays the three component columns (Units in issue and to be issued, Retained earnings, Total). Each year is represented separately to preserve the component columns.
Consolidated Statement of Cash Flows
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Net income before taxUS$’000 | 20,535 | 8,170 | PDF p. 139 |
| Operating activities — adjustments | |||
| Property related non-cash itemsUS$’000 | 1,781 | 834 | PDF p. 139 |
| Allowance for expected credit lossesUS$’000 | 120 | 394 | PDF p. 139 |
| Net fair value change in investment propertiesUS$’000 | (7,442) | 15,063 | PDF p. 139 |
| Loss on disposal of investment propertyUS$’000 | – | 2,627 | PDF p. 139 |
| Net fair value change in derivativesUS$’000 | 7,855 | 8,091 | PDF p. 139 |
| Foreign exchange (gains)/lossesUS$’000 | (22) | 2 | PDF p. 139 |
| Finance expensesUS$’000 | 41,338 | 36,035 | PDF p. 139 |
| Finance incomeUS$’000 | (129) | (670) | PDF p. 139 |
| Operating activities | |||
| Operating cash flow before working capital changesUS$’000 | 64,036 | 70,546 | PDF p. 139 |
| Operating activities — changes in working capital | |||
| Trade and other receivablesUS$’000 | (254) | (159) | PDF p. 139 |
| Prepaid expensesUS$’000 | (1,857) | 196 | PDF p. 139 |
| Trade and other payablesUS$’000 | 373 | 132 | PDF p. 139 |
| Amounts due to related partiesUS$’000 | 1,184 | (450) | PDF p. 139 |
| Rental security depositsUS$’000 | 488 | 651 | PDF p. 139 |
| Rent received in advanceUS$’000 | (300) | 1,408 | PDF p. 139 |
| Operating activities | |||
| Cash flow from operationsUS$’000 | 63,670 | 72,324 | PDF p. 139 |
| Taxes paidUS$’000 | (192) | (133) | PDF p. 139 |
| Net cash generated from operating activitiesUS$’000 | 63,478 | 72,191 | PDF p. 139 |
| Investing activities | |||
| Net proceeds from disposal of investment propertyUS$’000 | – | 75,373 | PDF p. 139 |
| Payment for capital expenditure relating to investment propertiesUS$’000 | (37,482) | (38,197) | PDF p. 139 |
| Interest receivedUS$’000 | 129 | 670 | PDF p. 139 |
| Net cash (used in)/generated from investing activitiesUS$’000 | (37,353) | 37,846 | PDF p. 139 |
| Financing activities | |||
| Distributions to UnitholdersUS$’000 | (6,149) | (5,328) | PDF p. 140 |
| Proceeds from issuance of UnitsUS$’000 | 25,000 | – | PDF p. 140 |
| Payment of transaction costs relating to issuance of UnitsUS$’000 | (675) | – | PDF p. 140 |
| Dividends on preferred sharesUS$’000 | (16) | (16) | PDF p. 140 |
| Proceeds from loans and borrowingsUS$’000 | 79,600 | 536,800 | PDF p. 140 |
| Repayment of loans and borrowingsUS$’000 | (82,686) | (584,064) | PDF p. 140 |
| Payment of transaction costs related to loans and borrowingsUS$’000 | (1,593) | (9,359) | PDF p. 140 |
| Interest paid on loans and borrowingsUS$’000 | (36,083) | (32,339) | PDF p. 140 |
| Net cash used in financing activitiesUS$’000 | (22,602) | (94,306) | PDF p. 140 |
| Cash reconciliation | |||
| Net increase in cash and cash equivalentsUS$’000 | 3,523 | 15,731 | PDF p. 140 |
| Cash and cash equivalents at the beginning of the yearUS$’000 | 27,485 | 11,756 | PDF p. 140 |
| Effect of exchange rate fluctuations on cash held in foreign currencyUS$’000 | 22 | (2) | PDF p. 140 |
| Cash and cash equivalents at end of the yearUS$’000 | 31,030 | 27,485 | PDF p. 140 |
Definitions & sources
Original report: PDF p. 139 ↗ PDF p. 140 ↗
Consolidated Portfolio Statement
16 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; Fair value | 2025Group; % of total net assets | 2024Group; Fair value | 2024Group; % of total net assets | Source |
|---|---|---|---|---|---|
| Consolidated portfolio | |||||
| 171 17th StreetUS$’000 (fair value); % (share of net assets) | 168,100 | 22.3 | 178,870 | 25.0 | PDF p. 141 |
| 222 MainUS$’000 (fair value); % (share of net assets) | 211,900 | 28.1 | 194,300 | 27.1 | PDF p. 141 |
| CrossPointUS$’000 (fair value); % (share of net assets) | 101,300 | 13.4 | 98,000 | 13.7 | PDF p. 141 |
| Park TowerUS$’000 (fair value); % (share of net assets) | 129,200 | 17.1 | 129,000 | 18.0 | PDF p. 141 |
| Promenade I & IIUS$’000 (fair value); % (share of net assets) | 82,300 | 10.9 | 72,300 | 10.1 | PDF p. 141 |
| Reston SquareUS$’000 (fair value); % (share of net assets) | 36,800 | 4.9 | 29,800 | 4.2 | PDF p. 141 |
| Sorrento TowersUS$’000 (fair value); % (share of net assets) | 124,100 | 16.4 | 123,500 | 17.2 | PDF p. 141 |
| The 101US$’000 (fair value); % (share of net assets) | 82,500 | 10.9 | 74,800 | 10.4 | PDF p. 141 |
| Tower 909US$’000 (fair value); % (share of net assets) | 104,900 | 13.9 | 87,100 | 12.2 | PDF p. 141 |
| Tower I at EmeryvilleUS$’000 (fair value); % (share of net assets) | 53,000 | 7.0 | 103,400 | 14.4 | PDF p. 141 |
| Village Center Station IUS$’000 (fair value); % (share of net assets) | 72,100 | 9.6 | 64,600 | 9.0 | PDF p. 141 |
| Village Center Station IIUS$’000 (fair value); % (share of net assets) | 160,800 | 21.3 | 140,190 | 19.6 | PDF p. 141 |
| Waterfront at WashingtonianUS$’000 (fair value); % (share of net assets) | 72,600 | 9.6 | 56,210 | 7.8 | PDF p. 141 |
| Total investment propertiesUS$’000 (fair value); % (share of net assets) | 1,399,600 | 185.4 | 1,352,070 | 188.7 | PDF p. 141 |
| Other assets and liabilities (net)US$’000 (fair value); % (share of net assets) | (644,717) | (85.4) | (635,694) | (88.7) | PDF p. 141 |
| Net assetsUS$’000 (fair value); % (share of net assets) | 754,883 | 100.0 | 716,376 | 100.0 | PDF p. 141 |
Definitions & sources
Original report: PDF p. 141 ↗
Percentage columns are percentages of total net assets, not monetary values. The published 2024 fair value for Tower I at Emeryville reflects the report’s held-for-sale treatment; source values are preserved as printed.
Fair-value columns are US$thousands; the alternating percentage columns are proportions of total net assets, not monetary amounts.
Distribution per Unit components
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Distribution period in 2025 | 2024Distribution period in 2024 | Source |
|---|---|---|---|
| Distribution per Unit comprises the following | |||
| 1 January to 30 JuneUS cents per Unit | 0.12 | 0.18 | PDF p. 15 |
| 1 July to 5 October (2)US cents per Unit | 0.24 | – | PDF p. 15 |
| 6 October to 31 DecemberUS cents per Unit | 0.25 | – | PDF p. 15 |
| 1 July to 31 DecemberUS cents per Unit | – | 0.11 | PDF p. 15 |
| Distribution per Unit (3)US cents per Unit | 0.61 | 0.29 | PDF p. 15 |
Definitions & sources
Original report: PDF p. 15 ↗
(1) Distribution per Unit comprises the listed components. (2) An advanced distribution was paid to eligible Unitholders on 14 November 2025. (3) Distribution per unit is less than 90% of the annual distributable income. The amount retained was/will be used to fund capital expenditures on the properties and/or pare down borrowings.
Key highlights — Investment Properties
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021REIT highlights; scope not explicitly labelled Group/Trust | 2022REIT highlights; scope not explicitly labelled Group/Trust | 2023REIT highlights; scope not explicitly labelled Group/Trust | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|---|---|---|
| Original key highlights and plotted values | ||||||
| Investment PropertiesUS$ billions | 1.65 | 1.54 | 1.41 | 1.35 | 1.40 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Gross Revenue
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021REIT highlights; scope not explicitly labelled Group/Trust | 2022REIT highlights; scope not explicitly labelled Group/Trust | 2023REIT highlights; scope not explicitly labelled Group/Trust | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|---|---|---|
| Original key highlights and plotted values | ||||||
| Gross RevenueUS$ millions | 157 | 163 | 160 | 141 | 133 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Net Property Income
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021REIT highlights; scope not explicitly labelled Group/Trust | 2022REIT highlights; scope not explicitly labelled Group/Trust | 2023REIT highlights; scope not explicitly labelled Group/Trust | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|---|---|---|
| Original key highlights and plotted values | ||||||
| Net Property IncomeUS$ millions | 101 | 98 | 94 | 76 | 69 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Income Available for Distribution
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021REIT highlights; scope not explicitly labelled Group/Trust | 2022REIT highlights; scope not explicitly labelled Group/Trust | 2023REIT highlights; scope not explicitly labelled Group/Trust | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|---|---|---|
| Original key highlights and plotted values | ||||||
| Income Available for DistributionUS$ millions | 76 | 77 | 58 | 38 | 29 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Committed Occupancy
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|
| Original key highlights and plotted values | |||
| Committed Occupancy% | 80.0 | 82.7 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Rental Reversion
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|
| Original key highlights and plotted values | |||
| Rental Reversion% | 1.8 | 5.6 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Weighted Average Lease Expiry
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|
| Original key highlights and plotted values | |||
| Weighted Average Lease Expiryyears | 4.4 | 5.6 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Lease Signings
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|
| Original key highlights and plotted values | |||
| Lease Signings’000 sf | 592 | 680 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Total Assets
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Total AssetsUS$ billions | 1.44 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Net Asset Value
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Net Asset ValueUS$ millions | 754.9 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Net Asset Value per Unit
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Net Asset Value per UnitUS$ per Unit | 0.53 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Price to Book1 (times)
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Price to Book1 (times)times | 0.37 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Aggregate Leverage2
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Aggregate Leverage2% | 45.0 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Debt Headroom3
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Debt Headroom3US$ millions | 144 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Debt headroom to50%aggregate leverage (original source footnote3).
Key highlights — Undrawn & Available Facilities
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Undrawn & Available FacilitiesUS$ millions | 65 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Weighted Average Debt Maturity4
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Weighted Average Debt Maturity4years | 1.8 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Based on fully extended terms (original source footnote4).
Key highlights — New leases signed FY2024 and FY2025
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Cumulative new leases signed in FY2024 and FY2025; as at31December2025 | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| New leases signed FY2024 and FY2025thousand square feet (k sf) | 814 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Rent commencement — staggered from 2026 onwards
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Future rent commencement from 2026 onwards, as at31December2025 | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Rent commencement — staggered from 2026 onwardsthousand square feet (k sf) | 446 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Original graphic:814k sf new leases signed acrossFY2024/FY2025; only368k sf had commenced rent as at31Dec2025, while446k sf is staggered to commence from2026onwards. Do not reverse commenced/future areas.
Key highlights — Rent commenced as at 31 December 2025
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Rent already commenced as at31December2025 | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Rent commenced as at 31 December 2025thousand square feet (k sf) | 368 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Original graphic:814k sf new leases signed acrossFY2024/FY2025; only368k sf had commenced rent as at31Dec2025, while446k sf is staggered to commence from2026onwards. Do not reverse commenced/future areas.
Key highlights — Distribution per Unit (DPU)
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024REIT highlights; scope not explicitly labelled Group/Trust | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|---|
| Original key highlights and plotted values | |||
| Distribution per Unit (DPU)US cents per Unit | 0.29 | 0.61 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Rental income equivalent to share of portfolio occupancy
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Future rental income staggered from2026onwards; as at31December2025 | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Rental income equivalent to share of portfolio occupancy% of portfolio occupancy | 10.6 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — FY2025 first-half distribution payout per Unit
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| FY2025 first-half distribution payout per UnitUS cents per Unit | 0.12 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — FY2025 first-half payout ratio
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| FY2025 first-half payout ratio% | 10 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — FY2025 advanced distribution payout per Unit
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| FY2025 advanced distribution payout per UnitUS cents per Unit | 0.24 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — FY2025 advanced distribution payout ratio
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| FY2025 advanced distribution payout ratio% | 50 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — FY2025 final distribution payout per Unit
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| FY2025 final distribution payout per UnitUS cents per Unit | 0.25 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — FY2025 final distribution payout ratio
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT highlights; scope not explicitly labelled Group/Trust | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| FY2025 final distribution payout ratio% | 65 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Gross Revenue — current precise callout
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT financial highlights as at31December2025; distinct from rounded chart | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Gross Revenue — current precise calloutUS$ millions | 133.3 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Net Property Income — current precise callout
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT financial highlights as at31December2025; distinct from rounded chart | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Net Property Income — current precise calloutUS$ millions | 69.3 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Key highlights — Income Available for Distribution — current precise callout
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT financial highlights as at31December2025; distinct from rounded chart | Source |
|---|---|---|
| Original key highlights and plotted values | ||
| Income Available for Distribution — current precise calloutUS$ millions | 28.7 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Original printed highlights and chart values retained, with their own original precision. These are not substituted for primary statements.
Numeric unit and year/series are bound to original printed glyphs and original page geometry.
Financial review — overview and reported year-on-year changes
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025REIT overview; source scope not explicitly labelled | 2024REIT overview; source scope not explicitly labelled | 2025Reported change (%), FY2025 vs FY2024 | Source |
|---|---|---|---|---|
| Overview; reported values and change | ||||
| Gross revenueUS$’000 (2025/2024); % (change) | 133,304 | 140,963 | (5.4) | PDF p. 15 |
| Property operating expensesUS$’000 (2025/2024); % (change) | (64,052) | (64,988) | (1.4) | PDF p. 15 |
| Net property incomeUS$’000 (2025/2024); % (change) | 69,252 | 75,975 | (8.8) | PDF p. 15 |
| Manager’s base feeUS$’000 (2025/2024); % (change) | (3,329) | (4,242) | (21.5) | PDF p. 15 |
| Manager’s performance feeUS$’000 (2025/2024); % (change) | (1,239) | – | N.M. | PDF p. 15 |
| Trustee’s feeUS$’000 (2025/2024); % (change) | (182) | (182) | – | PDF p. 15 |
| Other trust expensesUS$’000 (2025/2024); % (change) | (2,345) | (2,235) | 4.9 | PDF p. 15 |
| Net change in fair value of derivativesUS$’000 (2025/2024); % (change) | (7,855) | (8,091) | (2.9) | PDF p. 15 |
| Finance expensesUS$’000 (2025/2024); % (change) | (41,338) | (36,035) | 14.7 | PDF p. 15 |
| Finance incomeUS$’000 (2025/2024); % (change) | 129 | 670 | (80.7) | PDF p. 15 |
| Net income before tax and fair value change in investment propertiesUS$’000 (2025/2024); % (change) | 13,093 | 25,860 | (49.4) | PDF p. 15 |
| Net change in fair value of investment propertiesUS$’000 (2025/2024); % (change) | 7,442 | (15,063) | N.M. | PDF p. 15 |
| Loss on disposal of investment propertyUS$’000 (2025/2024); % (change) | - | (2,627) | (100.0) | PDF p. 15 |
| Net income before taxUS$’000 (2025/2024); % (change) | 20,535 | 8,170 | >100.0 | PDF p. 15 |
| Tax expenseUS$’000 (2025/2024); % (change) | (204) | (121) | 68.6 | PDF p. 15 |
| Net income attributable to UnitholdersUS$’000 (2025/2024); % (change) | 20,331 | 8,049 | >100.0 | PDF p. 15 |
| Distribution adjustmentsUS$’000 (2025/2024); % (change) | 8,395 | 30,126 | (72.1) | PDF p. 15 |
| Income available for distribution to UnitholdersUS$’000 (2025/2024); % (change) | 28,726 | 38,175 | (24.8) | PDF p. 15 |
| Distribution per Unit (1)US cents per Unit (2025/2024); % (change) | 0.61 | 0.29 | >100.0 | PDF p. 15 |
Definitions & sources
Original report: PDF p. 15 ↗
FY2025/FY2024 amounts are US$thousands, except DPU in US cents per Unit. The change column is percent. Original N.M., dash and >100.0 thresholds are retained; do not replace them with zero or exact percentages.
Debt
Borrowings
Contractual maturities of loans and borrowings, Group 2024 (liquidity risk)
| Item / unit | 2024Group carrying amount, US$'000 | 2024Group contractual cash flows | 2024Group within 1 year | 2024Group after 1 year but within 5 years | 2024Group after 5 years | Source |
|---|---|---|---|---|---|---|
| Non-derivative financial liabilities (non-current) | ||||||
| Loans and borrowingsUS$'000 | 637,266 | 720,408 | 35,561 | 684,847 | – | PDF p. 172 |
Notes
Contractual maturities include estimated interest payments.
Borrowing notes 1 tables
Loans and borrowings
| Item / unit | 2025US$'000 | 2024US$'000 | Source |
|---|---|---|---|
| Current (year of maturity 2026, note a, secured) | |||
| Term loan facilityUS$'000 | 66,950 | – | PDF p. 160 |
| Current | |||
| Less: Unamortised transaction costsUS$'000 | (73) | – | PDF p. 160 |
| Non-current (year of maturity 2025, note a) | |||
| Credit facility (term and revolver)US$'000 | – | 69,900 | PDF p. 160 |
| Non-current (year of maturity 2027, note b, secured) | |||
| Credit facility (term and revolver)US$'000 | 476,075 | 476,211 | PDF p. 160 |
| Non-current (year of maturity 2029, note c, secured, fixed 4.11%) | |||
| Term loan facilityUS$'000 | 105,000 | 105,000 | PDF p. 160 |
| Non-current | |||
| Less: Unamortised transaction costsUS$'000 | (9,933) | (13,845) | PDF p. 160 |
| Total | |||
| Total loans and borrowingsUS$'000 | 638,019 | 637,266 | PDF p. 160 |
Notes
(a) secured by investment property with carrying value US$124,100,000; extension exercised, revised maturity July 2026, reclassified to current; facility US$67.0 million, SOFR plus margin.
(b) secured by investment properties with carrying value US$1,063,600,000; total facility US$550.0 million (term loan US$400.0m, revolver US$150.0m), US$84.5 million drawn; extension option beyond July 2026; SOFR plus margin.
(c) secured by investment property with carrying value US$211,900,000; fixed interest rate 4.11% per annum.
Unutilised facilities US$65.5 million (2024: US$76.1 million). Weighted average interest rate (excl. amortisation of transaction costs) 5.37% (2024: 4.66%). Interest rate swaps nominal US$330,000k in 2025 and 2024. All borrowings in US$.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| DISTRIBUTION POLICY | PRIME’s distribution policy is to distribute at least 90% of its Annual Distributable Income (as defined in the Trust Deed) for each financial year as practicable. The actual distribution will be determined at the discretion of the Board of Directors of the Manager. When declared, the Manager will endeavour to pay distributions no later than 90 days after the end of each distribution period, which are typically paid on a semi-annual basis. | PRIME US REIT | PDF p. 80 |
| ESTABLISHMENT OF DISTRIBUTION REINVESTMENT PLAN | PRIME had announced the establishment of a distribution reinvestment plan (“DRP”) on 21 June 2021, pursuant to which Unitholders may elect to receive new Units in respect of all or, at the discretion of the Manager, only part of the cash amount of any distribution to which the DRP applies. | PRIME US REIT · As at 2021-06-21 | PDF p. 80 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Distribution per Unit (DPU)(1) (US cents): | 0.61 US cents per Unit | Group, FY2025 | PDF p. 136 |
| Distribution per Unit (DPU)(1) (US cents): | 0.29 US cents per Unit | Group, FY2024 comparative | PDF p. 136 |
| Distribution of US 0.12 cents per Unit for the period from 1 January 2025 to 30 June 2025 | 0.12 US cents per Unit | Group, 1H FY2025 | PDF p. 136 |
| Distribution of US 0.24 cents per Unit for the period from 1 July 2025 to 5 October 2025 | 0.24 US cents per Unit | Group, advanced distribution 1 Jul 2025 to 5 Oct 2025 | PDF p. 136 |
| Distribution of US 0.11 cents per Unit for the period from 1 July 2024 to 31 December 2024 | 0.11 US cents per Unit | Group, 2H FY2024 (comparative year) | PDF p. 136 |
| Distribution of US 0.18 cents per Unit for the period from 1 January 2024 to 30 June 2024 | 0.18 US cents per Unit | Group, 1H FY2024 (comparative year) | PDF p. 136 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| distributable income payout | 65% | FY2025, from 6 October 2025 onwards | PDF p. 8 |
Extracted from PRIME US REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.
REIT, bank & sector ratios
Key metrics
REIT metrics
| Item | Value | Period / scope | Source |
|---|---|---|---|
| weighted average interest rate | 5.4% | As at 31 December 2025, excluding amortisation of debt-related transaction costs · As at 2025-12-31 | PDF p. 17 |
| Committed occupancy | 82.7% | As at 31 December 2025; comparative 80.0% at December 2024 · As at 2025-12-31 | PDF p. 19 |
| Weighted average lease expiry (“WALE”) by NLA | 5.6 years | As at 31 December 2025; comparative 4.4 years as at 31 December 2024 · As at 2025-12-31 | PDF p. 20 |
| Total | 1,399.6 US$ million | Valuation of investment properties as at 31 December 2025; comparative 1,352.1 as at 31 December 2024 · As at 2025-12-31 | PDF p. 16 |
Extracted from PRIME US REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | Ernst & Young LLP | Group and Trust, FY2025 | PDF p. 133 |
| Engagement partner | Tan Seng Choon | Group and Trust, FY2025 | PDF p. 133 |
| Opinion | In our opinion, the accompanying consolidated financial statements of the Group, the statement of financial position and the statement of changes in unitholders’ funds of the Trust are properly drawn up | Group and Trust, FY2025 | PDF p. 130 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of investment properties | The valuation of the investment properties is significant to our audit due to magnitude and complexity of the valuation which is highly dependent on a range of assumptions and estimates made by external appraisers engaged by the Manager. | Group, as at 31 December 2025 | PDF p. 131 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern assumption | As at 31 December 2025, the Group’s current liabilities exceeded its current assets by US$68.1 million | Group, Note 2.2 · As at 2025-12-31 | PDF p. 144 |
Extracted from PRIME US REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow PRIME US REIT Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Official FY2025 report, financial year ended 31 December 2025; USD financial statements. Units retain original thousands/millions/billions, US cents per unit, US dollars per unit, thousands of units and percentages.
The auditor enumerates Group statements and separate Trust statements of financial position and changes in unitholders’ funds; separate Trust income/distribution/cash-flow statements are not presented.
Five-year chart values span 2021–2025, with precise current callouts separate from rounded bars. Chart summary scope is not explicitly labelled Group/Trust. Historical original-report backfill remains pending.
Original dashes, Nil, N.M. and >100.0 are retained without zero inference. Financial overview change percentages are distinct from monetary columns.
New leases 814 thousand square feet are cumulative FY2024/FY2025;368 thousand square feet commenced by 31 December 2025,446 thousand start in 2026 onwards. Future contracted income equivalent 10.6% of portfolio occupancy is distinct from current occupancy.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.