Shares & Derivatives
Keppel Pacific Oak US REIT Review @ 4 February 2021
By REIT-TIREMENT  •  February 4, 2021
Basic Profile & Key Statistics Keppel Pacific Oak US REIT (KORE) is a pure office REIT that owns 13 properties in U.S. KORE is traded in USD. Performance Review Gross revenue, NPI and distributable income increased YoY by 7.7%, 6.6% and 13.4% respectively mainly due to contribution from One Twenty Five which was acquired on November 2019. Despite that, DPU increased by 4% YoY due to enlarged unitholders arising from private placement for One Twenty Five acquisition. Rental reversion is +10.2% for FY2020. Lease Profile
  • Occupancy is slightly low at 92.3%
  • WALE is moderate at 3.8 years
  • Highest lease expiry within 5 years is low at 17.1% which falls in 2023
  • All properties are freehold.
Debt Profile
  • Gearing ratio is moderateat 37%
  • Cost of debt is high at 3.22%
  • Fixed rate debt % is slightly high at 84.7%
  • All debts are unsecured debt.
  • WADE is moderate at 2.9 years
  • Highest debt maturity within 5 years is slightly low at 28.6% which falls in 2022
  • Interest coverage ratio is high at 4.7 times
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By REIT-TIREMENT
I am Vince and welcome to my blog. I started this blog on 1st January 2019. Since the start of my investment journey, I have been fond of REITs because of its dividends. REITs allowed you to become a property landlord and get rental income without having to fork out large sum of initial capital, look out for tenant as well as manage the properties ...
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