Keppel REIT's Ocean Financial Centre, in which a stake was sold to Allianz Real Estate in 2018. (Photo: REITsWeek)Keppel REIT's Ocean Financial Centre, in which a stake was sold to Allianz Real Estate in 2018. (Photo: REITsWeek)

Data from Keppel REIT’s latest disclosure have been updated into the Singapore REITs table.

Keppel REIT has achieved distributable income from operations of SGD51.6 million for 1Q 2021, a 22.0% increase year-on-year.

The REIT has attributed the rise mainly to contributions from Victoria Police Centre in Melbourne and Pinnacle Office Park in Sydney.

Also contributing to the rise was higher one-off income as well as lower borrowing costs, although this was partially offset by the impact of slightly lower portfolio occupancy.

Keppel REIT’s aggregate leverage was 35.2% and an all-in interest rate was lower year-on-year at 2.01% per annum.

Meanwhile, the REIT’s portfolio committed occupancy was at 96.5% with a weighted average lease expiry (WALE) of 6.7 years.

Keppel REIT was last done on the Singapore Exchange at SGD1.21, which implies a distribution yield of 4.74% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.