A property in the initial portfolio of Prime US REIT. (Photo: Prime US REIT)

US office REITs in Singapore have demonstrated income resilience despite lockdowns that were enacted across the country amid the COVID-19 outbreak.

For the period spanning April-May 2020, US-focused office REITs have collected more than 90% of rents due for that period, according to figures compiled by DBS.

There are currently three US-focused office REITs listed on the Singapore Exchange (SGX).

These are Manulife US REIT (MUST), Keppel Pacific Oak US REIT (KORE), and Prime US REIT (Prime), all of which are currently trading at discounts to book value as listed on the Singapore REITs table.

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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.