 Logo from Keppel Pacific Oak US REIT
        
                    Logo from Keppel Pacific Oak US REIT
            Higher financing costs impact Keppel Pacific OAK US REIT's income
The REIT's income available for distribution fell to US$11.9m in 1Q24.
Keppel Pacific OAK US REIT saw its income available for distribution drop by 8.8% YoY to US$11.9m in 1Q24.
In a bourse filing, the REIT attributed the decline to higher financing costs as a result of higher interest rates.
The REIT"s net property income also fell in 1Q24, slipping 0.8% YoY to US$21.0m.
Meanwhile, the REIT posted a 1.4% negative rental reversion in 1Q24 due to renewals at Bellevue Technology Center and Westmoor.
More than half (64.3%) of the leases signed by the REIT in 1Q24 are renewals.
 
  
                     
  
                     
                                       
                                       
                                       
                                       
                                                           
                                                           
                                                           
                                                           
           
                                 
                                 
                                 
               
                                     
                                     
                                     
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
                             
                             
                     
                             
                             
                     
                             
                             
                     
                             
                 
                 
                 
                 
                 
                 
                