Buying the right assets remains one of the surest routes to a higher distribution per unit (DPU). For REITs, the test is whether an acquisition adds more to distributable income than it costs to fund. Net property income (NPI) rose 19.4% to S$105.2 million, while distributable income increased 20.7% to S$74.6 million. Aggregate leverage fell 20 basis points quarter on quarter to 35.1%, leaving around S$550 million in debt headroom. Gross revenue rose 8.0% YoY to S$426.7 million, while NPI rose 7.9% to S$314.4 million.