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Investors 'yet to appreciate' Keppel REIT, Singapore's only pure-office REIT: DBS

Jovi Ho
Jovi Ho12/14/2021 11:19 AM GMT+08  • 2 min read
Investors 'yet to appreciate' Keppel REIT, Singapore's only pure-office REIT: DBS
Keppel Bay Tower, one of the properties that's part of Keppel REIT's portfolio / Keppel
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As the only pure-office REIT now, Keppel REIT (KREIT) is recycling assets at top speed, say DBS Group Research analysts Rachel Tan and Derek Tan.

KREIT has announced the acquisition of Blue & William, a freehold Grade A office building under development located in North Sydney, Australia for A$327.7 million ($322.2 million). The acquisition will be fully debt-funded.

The acquisition will increase its Australia portfolio to 19.5% from 16.4% by assets under management (AUM), and the proportion of freehold assets in its portfolio to 32.6% by net lettable area (NLA).

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