Excluding non-cash straight-line rent, lease incentives and amortisation of leasing commissions, adjusted NPI was up by 15.9% y-o-y to US$23.4 million. This was mainly due to higher one-off other operating income, cash rental income and lower other property expenses, offset by higher repair and maintenance as well as utilities expenses.
KORE US REIT, previously Keppel Pacific Oak US REIT, has reported distributable income of US$10 million ($12.7 million) for the 1QFY2026 ended March 31, up 4.3% y-o-y.
During the quarter, gross revenue increased by 5.1% y-o-y to US$38.7 million, while net property income (NPI) grew by 13.6% y-o-y to US$22.3 million.
