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Keppel-KBS US REIT declares 0.7% higher than forecast 3Q DPU of 1.50 US cents

PC Lee
PC Lee10/17/2018 06:22 PM GMT+08  • 3 min read
Keppel-KBS US REIT declares 0.7% higher than forecast 3Q DPU of 1.50 US cents
SINGAPORE (Oct 17) The manager of Keppel-KBS US REIT has declared a 3Q18 DPU of 1.50 US cents. This is 0.7% higher than the forecast 1.49 US cents, driven by strong leasing, positive rental reversion and lower property expenses.
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SINGAPORE (Oct 17) The manager of Keppel-KBS US REIT has declared a 3Q18 DPU of 1.50 US cents. This is 0.7% higher than the forecast 1.49 US cents, driven by strong leasing, positive rental reversion and lower property expenses.

Gross revenue for 3Q18 was 2.0% lower than forecast at US$22.7 million ($31.2 million) than the forecast period, due mainly to an early lease termination at Westmoor Center in Denver, Colorado, in 1Q18, as well as lower recoveries income arising from lower property expenses.

However, income available for distribution to unitholders was 0.2% higher than forecast to US$9.47 million due mainly to lower property expenses and the one-off compensation income from the early lease termination that was recognised in 1Q18.

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