Keppel REIT announced on Sep, 17 2026 that it divested KR Ginza II in Tokyo for JPY 11.52 billion, representing a 28.4 percent premium to the November 2022 purchase price and a 9.7 percent premium to the Jul, 10 2026 valuation. The sale was completed on Aug, 17 2026.
For the six months ended Jun, 30 2026, net property income rose 13.1 percent year-on-year to 122.5 million Singapore dollars, while distributable income from operations increased 25.2 percent to 119.6 million Singapore dollars. Including a 10.0 million Singapore dollars anniversary distribution, total distributable income reached 129.6 million Singapore dollars, up 22.8 percent from a year earlier.
Portfolio committed occupancy stood at 96.0 percent with a weighted average lease expiry of 4.5 years. Aggregate leverage was 40.0 percent and the weighted average cost of debt was 3.27 percent per annum as of Jun, 30 2026. About 62 percent of borrowings were on fixed rates, and sustainability-linked funding accounted for 80 percent of total borrowings.
Following the Tokyo divestment, Keppel REIT holds 14 assets across Singapore, Australia, South Korea and Japan with an asset under management value of 11.8 billion Singapore dollars.