(i) Provide Unitholders with regular and stable distributions
(ii) Achieve long-term growth in distribution per unit ("DPU") and NAV per unit
(iii) Maintain an appropriate capital structure
1 “A stabilised income-producing real estate asset” means a real estate asset which meets the following criteria as at the date of the proposed offer: (i) achieved a minimum occupancy of at least 80%; (ii) achieved an average rental rate comparable to the market rental rate for similar assets as determined by the valuer commissioned for the latest valuation of the relevant asset; (iii) (if the asset is being acquiredrom the Lendlease Group) Lendlease Global REIT being satisfied that there are no material asset enhancement initiatives required within two years of the acquisition of such asset; and (iv) is suitable for acquisition by Lendlease Global REIT taking into account market conditions at the time of the proposed offer.
2 As at 31 July 2019 based on the aggregate of the higher of the two independent valuations for each property conducted by the Independent Valuers in respect of each property (“Appraised Value”) and taking into account the effects of the Singapore Property Tenant Incentive Reimbursement.