The lower distributable income was also attributed to higher finance and other trust expenses, which rose by 6% y-o-y to US$24.6 million.
Keppel Pacific Oak US REIT (KORE) has reported income available for distribution of US$30.4 million ($39.4 million) for the 9MFY2025 ended Sept 30, 14.8% lower y-o-y.
The drop was due to the lower adjusted net property income (NPI) of $63.2 million, 2.2% lower y-o-y, due to lower cash rental income from higher free rents due to the timing differences in leases completed for the respective periods.
