The listed landlord, DNZ Property Fund, says the value of its property portfolio has risen $9 million.
It says its portfolio was 99.6% full at the end of March, up from the 98.7% last year.
That equates to 258 tenants compared with 252 last year.
The weighted average lease term has fallen from 5.4 to 5.2 years.
And while the firm's portfolio has declined from 51 properties to 48, an independent valuation of the portfolio has risen to $667 million compared with $658 million last year.