Keppel Pacific Oak US REIT's (SGX:CMOU) net property income fell by 2.2% during the nine months ended Sept. 30 to $63.2 million from $64.6 million a year earlier, according to a Tuesday filing with the Singapore Exchange.
Income available for distribution fell 15% to $30.4 million from $35.7 million, due to lower cash rental income.
Gross revenue fell slightly by 0.1% to %112.1 million from $112.0 million.
Occupancy meanwhile, remained relatively stable at 88.0%.
Shares of the REIT were up nearly 7% in Tuesday trading.
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