Along with releasing it's results for the year 2023, Keppel Pacific Oak US REIT is announcing the suspension of distributions to shore up its balance sheet:

The manager noted a challenging borrowing environment as lenders remain concerned about the US office market. Meanwhile, Kore’s leverage rose to 43.2 per cent post the FY2023 valuation, approaching the 50 per cent limit set by the Monetary Authority of Singapore and bank covenants.