Keppel Pacific Oak US Reit's Q1 distributable income fell 8.8% YoY due to increased interest rates.

Keppel Pacific Oak US Reit's Q1 distributable income fell 8.8% YoY to US$11.9m due to higher financing costs from increased interest rates. The office-focused REIT's net property income also fell 0.8% to US$21.0m. A negative 1.4% rental reversion occurred due to Bellevue Technology Center and Westmoor renewals, with more than half of leases signed in Q1 being renewals.

April 17, 2024
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