The Directors of Keppel Pacific Oak US REIT Management Pte. Ltd., as Manager of Keppel Pacific Oak US REIT, are pleased to announce the unaudited results of Keppel Pacific Oak US REIT for the second half and full year ended 31 December 2022.

Keppel Pacific Oak US REIT maintains healthy aggregate leverage ratio at 38.2% 

Highlights

• Portfolio valuation improved by US$2.2 million year-on-year (y-o-y). Taking into consideration capital expenditures and tenant improvements for 2022, there was a fair value loss of US$39.2 million.
• 651,319 sf, or 13.7% of portfolio net lettable area (NLA) of office space, was committed in FY 2022, bringing portfolio committed occupancy to 92.6% as at 31 December 2022.
• Adjusted Distributable Income (DI) of US$60.6 million for FY 2022 was 5.1% higher y-o-y, due mainly to the two new acquisitions of Bridge Crossing and 105 Edgeview, which were completed in August 2021.
• FY 2022 Distribution per Unit (DPU) of 5.80 US cents translated to a distribution yield of 12.60% as at 31 December 2022.