K-REIT will be seeking approval at an EGM for a rights issue priced at 85c per rights unit. This is to partially fund the purchase of Ocean Financial Centre. Mr. Market does not like this whole deal and sold down the units to a low of 93c this morning. What do I think? Well, the whole exercise is expected to be DPU accretive which is something investors for income want to see. DPU is expected to increase from 6.37c to 6.72c. Using the low of 93c per unit this morning, the TERP is 93c x 20 + 85c x 17 /37 = 89.32c.  A pro forma DPU of 6.72c means a distribution yield of 7.52%. Ocean Financial Centre is currently about 80% occupied. If the REIT manager is able to bump up the occupancy rate, we could see DPU and yield increase further. However, with the current ......