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Keppel Pacific OAK US REIT’s distributable income falls 19.3% YoY

The REIT's lower NPI also contributed to the decline.

Keppel Pacific OAK US REIT's distributable income fell 19.3% year-on-year to $12.5m (US$9.6m) in the first quarter of 2025 on lower net property income (NPI).

In its Q1 2025 financial statement, the REIT said its NPI dipped 6.2% YoY to $25.7m (US$19.7m).

The REIT attributed its lower NPI to lower rental income from higher free rents.

Meanwhile, the REIT also reported a 0.5% YoY lower gross revenue of $48.1m (US$36.9m).
 

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