17-April-2017Unaudited Results of Keppel DC REIT for First Quarter Ended 31 March 2017
The Directors of Keppel DC REIT Management Pte. Ltd., as Manager of Keppel DC REIT, are pleased to announce the unaudited results of Keppel DC REIT for the first quarter ended 31 March 2017.
Keppel DC REIT's Distributable Income Registers Strong Year-on-year Growth
• Distributable income1 for 1Q 2017 was $21.8 million, 47.6% higher than 1Q 2016, contributed by a $1.7 million one-off capital distribution in relation to the Keppel DC Singapore 3 acquisition, income from the acquisitions announced last year as well as lower property-related and other expenses.
• Portfolio occupancy rate of 95.1%
• Portfolio weighted average lease expiry (WALE) of 9.2 years by leased lettable area
• Aggregate leverage of 27.9%
• Interest coverage ratio of 11.6 times
(1) Arising from the later completion of Keppel DC Singapore 3 on 20 January 2017 and where the vendor had agreed that all the rights and obligations shall pass to the REIT as if completion had occurred on 1 December 2016, the distributable income included a one-off capital distribution of approximately $1.7 million for the month of December 2016. Pursuant to the lease agreement entered into for Keppel DC Singapore 3, the distributable income would also include an amount of capital expenditure that had been set aside for this asset (the Capex Reserves).
For more information, please contact:
Mr Kevin Ho
Ms Liang Hui Hui