Unlike most other US REITs which declare their loans as "SOFR + Margin", KepPacOak (KORE) does an investor friendly option of publishing the exact spread they pay their lenders for loans (before factoring hedging) based on SOFR. Below is KORE's debt interest profile:

For investors knowing the interest margin of a company's debt gives a lot more clarity for our projection and the effects to the interest coverage ratio. From the above data, we can gleam that for commercial REITs and pherhaps even Utdhampshire, debts are borrowed at least 1.5% spread from SOFR.

KORE has been excellent in its disclosure and I look forward to other REITs disclosing their borrowings with the same level of clarity. It allows us investors to quantify the risk we are taking when investing in each REIT

What Can Investors Learn from The Above Data