Keppel Pacific Oak US REIT's NPI jumped 31.8% to $100.88m in 2019

The contributions from The Westpark Portfolio boosted revenue in Q4.

Keppel Pacific Oak US REIT's (KORE) net property income (NPI) rose 31.8% to $100.88m (US$74.75m) in FY 2019, from $76.55m (US$56.72m) in FY 2018, the trust announced. Gross revenue grew 31.4% to $165.85m (US$122.89m). over the same period.

In Q4, NPI jumped 37.1% to $27.09m (US$20.07m) whilst revenue surged 37.8% to $45.57m (US$33.77m). This was largely attributed to contributions from The Westpark Portfolio, Maitland Promenade I, and One Twenty Five.

Overall, income available for distribution to unitholders expanded 32.8% to $18.35m (US$13.6m) in Q4, and 26.3% to $68.56m (US$50.8m) for FY 2019.

Furthermore, net income for the fiscal year soared 47.1% to $94.06m (US$69.7m). In Q4, it nearly tripled to US$48.5m.