Keppel REIT disclosed on 2 January that its asset in Tokyo, which is known as KR Ginza II, has achieved full occupancy.

The milestone was achieved after it secured two new tenants from the technology, media and telecommunications sector, said Keppel REIT without revealing the identity of these companies.

These leases bring the assets occupancy rate to 100% from 36.3% at the point of acquisition.

KR Ginza II is Keppel REIT’s freehold boutique office building in Tokyo.

When it was acquired, it marked the REIT’s first entry into Japan.

KR Ginza II is managed by Keppel’s fund management & investment team in Japan

Besides the Japan asset, Keppel REIT owns a portfolio of several commercial properties in the Asia Pacific region, with a total value of over SGD9 billion.

Keppel REIT was last done on the Singapore Exchange at SGD0.935, which presently implies a distribution yield of 6.2% according to details in the Singapore REITs table.

By Shariffa Al-Habshee

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