Keppel Pacific Oak US REIT property, Westmoor Center (Photo: Keppel Pacific Oak US REIT)Keppel Pacific Oak US REIT property, Westmoor Center (Photo: Keppel Pacific Oak US REIT)

Data from Keppel Pacific Oak US REIT’s latest disclosure is in the Singapore REITs table.

Keppel Pacific Oak US REIT (KORE) has reported gross revenue of USD37 million for its 1Q 2022.

This represents a growth of 6.9% from the USD34.6 million achieved in the corresponding period of 2021.

Accordingly, the REIT’s net property income (NPI) increased by 6.7% year-on-year to USD21.7 million.

Distributable income for 1Q 2022 was up 10.9% year-on-year to USD16.6 million.

The REIT has attributed these increases largely to the acquisitions of Bridge Crossing in
Nashville and 105 Edgeview in Denver in August 2021.

Related: Keppel Pacific Oak US REIT keeps watch on logistics assets in expansion plans

KORE was last done on the Singapore Exchange at USD0.745, which presently implies a distribution yield of 8.51% according to data on the Singapore REITs table.

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.