This will, however, be no “later than 60 days after Dec 31, 2023”, or Feb 29.
In October 2023, KORE reported a lower adjusted distributable income of US$13.1 million (then $17.93 million) for 3QFY2023 ended Sept 30, down 10.7% y-o-y.
The REIT manager cited higher financing costs as a result of rising interest rates.
For 9MFY2023, adjusted distributable income stood at US$39.2 million, down 15.2% y-o-y from $46.2 million in the same period a year ago.
The REIT’s net property income (NPI) grew by 3.7% y-o-y to US$22.1 million for the 3QFY2023, and 2.6% y-o-y to $65.9 million for the 9MFY2023.
Units in Keppel Pacific Oak US REIT closed 0.5 US cents higher, or 1.59% up, at 32 US cents on Jan 30. Its unit price has declined 40.7% over the past year.
Commercial real estate in the US has been pummelled by tight lending amid high interest rates, along with flagging leasing demand for office space.
Fellow US office S-REITs Manulife US REITand Prime US REIThave seen their unit prices decline 80.6% and 64.8% respectively over the past year.
