Acorn student housing I-REIT net profit rises to Sh285.2mn
Fund manager Acorn Investment Management Limited attributed the growth to higher rental income, improved occupancy levels and a 36.3 percent reduction in finance costs following continued debt optimization...
✨ Key Highlights
Acorn Student Accommodation Income Real Estate Investment Trust (ASA I-REIT) reported a significant increase in net profit for the first half of 2026, driven by strategic acquisitions and financial management.
- Net profit rose to Sh285.2 million from Sh251.6 million in the same period last year.
- The growth is attributed to higher rental income, improved occupancy, and a 36.3 percent reduction in finance costs by Acorn Investment Management Limited.
- Total assets increased by 21.7 percent following the acquisition of Qwetu Karen and Qejani Karen, expanding the REIT's total accommodation beds to approximately 20,000.
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