News about Keppel Pacific Oak US REIT —
Keppel-KBS US REIT continues its buying spree with the purchase for US$48.5 million of an office property in Maitland, near Orlando, Florida. Named Maitland Promenade I, the asset is adjacent to Maitland Promenade II that the trust already owns. With a net lettable area of 230,371 m², the property has a 98.1% committed occupancy rate.
As financing is expected to be done by debt, the manager expects the transaction to increase DPU.