The Directors of Keppel REIT Management Limited, as Manager of Keppel REIT, are pleased to announce the unaudited results of Keppel REIT for the second half and full year ended 31 December 2020.
Keppel REIT achieves distributable income of $194.6 million for FY 2020
Key Highlights
- Distributable income for the full year of 2020 (FY 2020) was $194.6 million, including capital gains distribution of $10.0 million.
- Distribution per Unit (DPU) for FY 2020 was 5.73 cents, including DPU of 2.93 cents for the second half of 2020 (2H 2020).
- Aggregate leverage was 37.3% and all-in interest rate was lower year-on-year at 2.35% per annum.
- Active portfolio optimisation efforts which saw the practical completion of Victoria Police Centre[1] in Melbourne in July 2020, acquisition of Pinnacle Office Park in Sydney in December 2020, and the proposed acquisition of Keppel Bay Tower in Singapore announced in December 2020.
- High portfolio committed occupancy of 97.9% and long portfolio weighted average lease expiry (WALE) of 6.7 years.
[1] Formerly known as 311 Spencer Street.
