KORE US REIT distribution income rises 4.3% to $12.73m in Q1

Adjusted net property income increased 15.9% to $29.8m (US$23.4m).

Kore US Reit’s distribution income rose 4.3% year-on-year (YoY) to $12.73m (US$10m) for the first quarter of 2026.

Adjusted net property income increased 15.9% to $29.8m (US$23.4m), on the back of higher one-off other operating income, cash rental income, and lower other property expenses.

Aggregate leverage stood at 43.7% as at end-March 2026, compared with 44.1% as at 31 December 2025.

Portfolio occupancy was 85.1%, which the REIT said was affected by a known vacancy at Westpark.

Leasing activity for the quarter totalled 58,157 square feet, or 1.2% of net lettable area. Rental reversion came in at 0.8%.

During the quarter, the REIT completed the first-floor lobby repositioning at the 10800 The Plaza Building.

$1 = US$0.79

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