■ Diversified across the US. Keppel-KBS US REIT (KORE) holds an initial portfolio of 11 freehold US offices across seven markets in the US-Seattle (32% of cash rental income), Sacramento (6%), Denver (15%), Austin (12%), Houston (21%), Atlanta (7%), and Orlando (7%). Overall, the portfolio is largely Class A, with Class A suburban assets accounting for 37% of the portfolio by cash rental income, followed by Class A CBD assets at 32% and Class B/B+ suburban assets at 31%. The structure of KORE will be similar to other US Asset Singapore REITs which allows for minimal tax exposure.
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