Income available for distribution also fell by 17.2% y-o-y to US$26.1 million due to higher financing costs. The divestments of Northridge Center I & II and Powers Ferry in the 2HFY2022 and the REIT manager opting to receive its base fees in cash instead of units during the 1QFY2023 also led to the lower distributable income.
The manager of Keppel Pacific Oak US REIT (KORE) has reported a distribution per unit (DPU) of 1.25 US cents (1.66 cents) for the 2QFY2023 ended June 30, 12.6% lower than the DPU of 1.43 cents in the corresponding year before.
KORE’s DPU for the 1HFY2023 fell by 17.2% y-o-y to 2.50 US cents.
