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 half year ended 30 June 2024.

Keppel Pacific Oak US REIT (KORE) achieved steady leasing momentum for 1H 2024

Highlights

• Leased 534,931 sf or 11.1% of portfolio net lettable area (NLA) of office space in 1H 2024.
• Portfolio committed occupancy remained healthy at 90.7% as at 30 June 2024 against 90.3% as at 31 December 2023.
• Aggregate leverage at 42.7% as at 30 June 2024 against 43.2% as at 31 December 2023.
• As part of KORE’s Recapitalisation Plan goals, the REIT successfully refinanced/ extended loan facilities that were originally due in 4Q 2024 and 3Q 2025, amounting to a total of US$170.0 million on 19 July 2024 and 29 July 2024.