Keppel Pacific OAK US REIT’s NPI dips 8.8% YoY on higher financing costs

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

Keppel Pacific OAK US REIT's distributable income fell 8.8% YoY to US$11.m on lower net property income (NPI) and higher financing costs.

In its Q3 2024 financial statement, the REIT said its NPI fell 8.8% YoY to US$20.1m.

The REIT attributed its lower NPI to higher one-off income in Q3 2023 and higher property expenses in Q3 2024.

Meanwhile, the REIT also reported a 2.2% YoY lower gross revenue of US$27.6m.

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