Keppel-KBS US REIT

Macro jitters propel S-REIT inflows to $240 mil in 1Q19

SINGAPORE (Apr 4): Singapore REITs (S-REITs) have a seen net institutional inflows of $82.7 million, $42.7 million and $114.2 million for the respective first three months of 2019, according to recent SGX data for 1Q19.

This brings the sector’s inflows to $239.6 million for 1Q19, with S-REITs being the top net buy sector in Jan 2019.

Why DBS remains bullish on Keppel-KBS US REIT after a tepid 2018

SINGAPORE (Jan 28): DBS Vickers Securities is maintaining its “buy” call on Keppel-KBS US REIT (KORE), with a higher target price of 80 US cents from 78 US cents previously to adjust for lower-than-expected debt balance at end-FY18.

See: Keppel-KBS US REIT posts 4Q DPU of 1.25 US cents, 16.7% lower than forecast on enlarged base

Keppel-KBS US REIT acquires Maitland Promenade I for $67 mil

SINGAPORE (Nov 27): Keppel-KBS US REIT's newly established wholly-owned subsidiary, KORE Maitland Promenade I, will be acquiring the Maitland Promenade I for US$48.5 million ($66.7 million).

Located in the Maitland submarket of Orlando, Florida, the Maitland Promenade I is an office property that has a net lettable area of about 230,371 sq ft, with access to a three-storey parking deck. As at Oct 25, the property has a committed occupancy rate of 98.1%.

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.

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.

Keppel-KBS US REIT a 'buy' as it deepens exposure in growing Seattle market

SINGAPORE (Sept 25): DBS is maintaining its “buy” call on Keppel-KBS US REIT with a target price of 95 US cents.

This came on the back of news that the REIT will be acquiring 21 buildings – dubbed the Westpark portfolio – located in a suburban business campus in Redmond, Washington for US$169.4 million ($231.4 million) from KBS Strategic Opportunity REIT (SOR).

See: Keppel-KBS US REIT acquiring Redmond, Washington portfolio for US$169 mil

Keppel-KBS US REIT acquiring Redmond, Washington portfolio for US$169 mil

SINGAPORE (Sept 24): The manager of Keppel-KBS US REIT is acquiring 21 buildings in a US suburban business campus for a consideration of US$169.4 million ($231.4 million).

Dubbed the Westpark portfolio, the 21 buildings have a total of 781,966 sf over 41 acres.

Located adjacent to downtown Redmond, Washington, the portfolio includes three clusters of buildings:

KBS Realty said to be considering US$1 bil REIT IPO in Singapore

SINGAPORE (July 26): KBS Realty Advisors, a US-based commercial property owner, is considering its second real estate investment trust listing in Singapore, people with knowledge of the matter said.

The company aims to raise at least US$1 billion ($1.36 billion) from a potential sale of trust units backed by at least 15 prime commercial properties, the people said. A possible initial public offering could take place in the fourth quarter, said the people, who asked not to be identified because the details are private.

Keppel-KBS US REIT declares 2Q DPU of 1.50 US cents, exceeding IPO forecast

SINGAPORE (July 17): Keppel-KBS US REIT announced 2Q18 ended June DPU came in at 1.50 US cents (2.04 cents), 0.7% higher than its initial public offering (IPO) forecast of 1.49 US cents.

Gross revenue for 2Q18 was US$22.6 million ($30.8 million), 2.1% lower than the forecast of US$23.1 million.

With property expenses 7.2% lower than forecast at US$8.85 million, net property income (NPI) for 2Q18 was 1.5% higher than forecasted at US$13.8 million.

Keppel-KBS US REIT declares higher than forecast 1Q DPU of 2.32 US cents

SINGAPORE (Apr 17): The manager of Keppel-KBS US REIT has announced a maiden 1Q distribution per unit (DPU) of 2.32 US cents for period of its listing date on Nov 9 2017 to end March this year, exceeding the IPO forecast of 2.31 US cents by 0.4%.

This translates to an annualised available for distribution yield of 6.73%, based on the unit closing price of 88 US cents as at end March.

As Keppel‐KBS US REIT declares distributions on a half‐yearly basis, no distribution has been declared for the quarter under review.

Catch the next leg of US office market upturn with Keppel-KBS US REIT

SINGAPORE (Jan 15): DBS Group Research is initiating coverage on Keppel-KBS US REIT with a "buy" call and target price of US 95 cents.

The initial portfolio of 11 freehold office assets are located in seven US key regional markets which are seeing positive dynamics, says DBS.

The properties should also benefit from tenants seeking cheaper rents and the flow of capital as investors pursue markets where asset prices have yet to rally as much as some gateway cities.

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