Keppel REIT attributes the higher distribution in FY2021 to accretive acquisitions namely the Victoria Police Centre in Melbourne and Pinnacle Office Park in Sydney in 2020, and Keppel Bay Tower in Singapore in May 2021.
However, total distribution income was partly reduced from the divestment of Keppel REIT’s 50% stake in 275 George Street in Brisbane in July 2021. A gain from divestment was booked though.
As at Dec 31 2021, the REIT’s committed occupancy was 95.4% while the portfolio and top 10 tenants’ WALE remained long at approximately 6.1 years and 10.8 years respectively.
The value of the portfolio as at Dec 31 2021 was $8.9 billion.
See also: Creative guides for ‘similar level of operating loss’ for 2HFY2025
Keppel REIT closed on Jan 25 at $1.16, unchanged for the day and up 2.65% year to date.
