Keppel Pacific Oak US REIT (KORE) has posted distributable income of US$14.9 million for the 1QFY2021 ended March, some 3.6% higher than the US$14.4 million posted in the 1QFY2020.

The higher figure was mainly attributable to the new and expansion leases from the tech hubs of Bellevue and Redmond in Seattle, as well as Denver, says the REIT.

Gross revenue stood 2.1% lower y-o-y at US$34.6 million, while net property income (NPI) fell 2.8% y-o-y to US$20.4 million.

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