Keppel-KBS Acquires Another Florida Office Building

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.

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