Maitland Promenade II (Photo: KBS)

Keppel-KBS US REIT is acquiring Maitland Promenade I for USD48.5 million.

The property is being acquired from The Realty Associates Fund X, will be Keppel-KBS US REIT’s second property in Orlando, Florida, and is adjacent to Maitland Promenade II, which the REIT currently owns.

Maitland Promenade I has a net lettable area of 230,371 square feet, with a committed occupancy rate of 98.1% as at 25 October 2018.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.