Dexus Industria REIT (DXI) has announced ITS half year results for the period ending 31 December 2022.

Highlights include Funds from Operations increasing by 9.2%, a record leasing of 67,700 square metres and a portfolio like-for-like growth of 2.7%.

The company also says the balance sheet remains resilient with gearing below the target range, $139M of liquidity and no near-term debt maturities.

Dexus Industria REIT says its high-quality portfolio provides a reliable income stream with 55% of the portfolio generating fixed rental growth of 3.0 – 3.5% per annum.

Its total development pipeline is $369 million and provides an opportunity to capture strong market rental growth.