KEPPEL-KBS US Reit on Tuesday declared a distribution per unit of 1.50 US cents for the first quarter, 23 per cent higher than the forecasted 1.22 US cents.
This was on the back of contributions from two acquisitions, positive rental reversion and healthy leasing momentum. They resulted in a higher gross revenue of US$29.4 million, up 24.2 per cent from US$23.7 million a year ago. The Reit's DPU for the first quarter was up 30.4 per cent, compared to an adjusted DPU of 1.15 US cents for Q1 2018.sentifi.comPortfolio committed occupancy increased to 92.1 per cent as at March 31, with more than half of leasing activities in the quarter being renewals. Demand came mainly from tenants in the technology and professional services sectors, and more than half of the leases signed in the quarter were from the Reit's three properties in Seattle.
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