Frasers Logistics & Commercial Trust released its business update for the quarter from Oct, 01 2025 to Dec, 31 2025, reporting a portfolio occupancy rate of 96.2% and a weighted average lease expiry of 4.9 years.

The trust’s portfolio comprised 113 properties across Australia, Germany, the Netherlands, Singapore and the United Kingdom with a total lettable area of 2.82 million sq m and a combined valuation of 6.89 billion Singapore dollars. Logistics and industrial assets represented 75.1% of the portfolio value, while business parks and offices accounted for 20.2% and 4.7% respectively.

Logistics and industrial assets recorded an average-versus-average face rent reversion of 36.4%, while commercial assets posted a 1.6% decline, resulting in a blended portfolio reversion of 29.8%. Occupancy in the logistics and industrial segment stood at 99.7%, and 89.0% for commercial properties.

Aggregate leverage was 34.8%, down 0.9 percentage points from the previous quarter. The trust reported debt headroom of 592 million Singapore dollars to a 40% leverage threshold and 2.09 billion Singapore dollars to a 50% threshold. The cost of borrowings averaged 3.1% on a trailing three-month basis, with 68.6% of borrowings fixed. Average weighted debt and hedge maturities were both 2.8 years, and the interest coverage ratio was 4.1 times.

Environmental initiatives include 19.7 MW of installed solar capacity and the maintenance of a 5-Star GRESB rating for the ninth consecutive year.

The trust’s tenant base remains diversified, with its top 10 tenants contributing 25.5% of gross rental income and an average WALE of 6.1 years.

No distribution figures were provided in the update.