Keppel-KBS Acquires Seattle Business Campus

News about Keppel Pacific Oak US REIT

Keppel-KBS US REIT makes its first acquisition by acquiring a business campus around Seattle, Washington. The US$169.4 million property is in Redmond and comprises 21 buildings.

The addition of this portfolio is expected to increase Keppel-KBS US Reit’s aggregate valuation by 20.8 per cent to US$985.5 million, as well as its net lettable area by 24.2 per cent to more than four million square feet, the Reit manager said.

Keppel Pacific Oak US REIT
Price0.755 USD
NAV0.760 USD
Yield (4 quarters)7.62%
Gearing37.7%