Keppel Pacific Oak US REIT said Friday it entered a deal to acquire One Twenty Five, an office complex in the Dallas-Fort Worth area in Texas for US$101.5M.
The REIT formerly known as Keppel-KBS US REIT has changed its name to Keppel Pacific Oak US REIT, the REIT’s manager said in a filing to SGX Thursday.
Keppel-KBS US REIT reported Tuesday its second quarter net property income was US$17.99 million, up 30.4 percent on-year on two acquisitions.
RHB started Keppel-KBS US REIT at Buy with a US$0.88 target price, saying its unit price is undervalued giving yields of around 8 percent.
These are Singapore companies which may be in focus Tuesday, 18 June 2019: Singapore Airlines, Sembcorp Industries, Singtel, ESR-REIT and Singapore property.
Keppel-KBS US REIT reported Tuesday that its first quarter net property income rose 23.7 percent on-year to US$18.19 million after the REIT’s acquisitions.