{
  "id": 16691221,
  "title": "Kore US Reit 9M net property income rises 3% to US$63.1 million",
  "url": "https://urgent.news/2026/10/27/kore-us-reit-9m-net-property-income-rises-3-to-us-63-1-million",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-27T02:01:06.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/kore-us-reit-9m-net-property-income-rises-3-us63-1-million"
  },
  "original_language": "en",
  "account": "In the nine months leading up to September 30, 2026, the manager of Kore US Real Estate Investment Trust (Reit) disclosed a 3% increase in net property income (NPI) to US$63.1 million, up from US$61.3 million in the same period a year prior. Revenue grew 2.5% to US$114.9 million, compared to US$112.1 million previously. Adjusted NPI, which excludes certain non-cash expenses, rose 5.5% to US$66.7 million, from US$63.2 million. This increase was largely driven by higher one-off termination fee income, other operating income, and cash rental income, though it was offset partially by increased repair, maintenance, and utility expenses. Finance and other trust expenses climbed 5.4% to US$26 million, due to higher finance costs. The Reit's distribution per unit is expected to \"remain consistent\" at US$0.004 for the second half of 2026 and the first half of 2027, subject to market and financing conditions. The manager aims to gradually raise the payout ratio to a sustainable level, in line with the Reit's portfolio performance. As of September 30, 2026, portfolio occupancy was at 86.1%, with a 0.7% year-on-year increase in portfolio rental reversion. The Reit's target occupancy by the end of fiscal year 2026 is at least 87%. The Reit's portfolio has a weighted average lease expiry of 3.8 years across 13 freehold office buildings and business campuses, with an NLA of 4.8 million square feet.",
  "summary": "H2 2026, H1 2027 DPU are expected to ‘remain consistent’ at US$0.004",
  "key_points": [
    "Net property income rises 3% to US$63.1 million for Q3 2026",
    "Revenue increases 2.5% to US$114.9 million year-over-year",
    "Adjusted net property income grows 5.5% to US$66.7 million"
  ],
  "editors_take": "Rising rental income and one-off fees are helping offset higher utility and finance costs as the trust seeks to stabilize its payout ratio alongside improving portfolio occupancy levels.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}