Interestingly, Straits Time has released an article on the positivity of the US Office REIT space.
Similar to them, I had been positive for a while. This was mainly due to the successful refinancing of all 3 SGX US Office REIT in their refinancing of debt. This removes one key re-financing risk. Of course, Manulife US (MUST) refinancing meant that the REIT will have to start selling US office buildings from a position of weakness amid vacating tenants in both Penn and Diablo Buildings.
Positive- Refinancing Done, 10% Dividend Resume 2026
Despite the high leverage of the US Office REITs (due to high cap rates used), refinacing of their debts were confirmed in 2024. My main investment, PRIME US, has refinanced albeit at a higher quantum + SOFR.
With cashflow secured, my view is in 2025 both KORE and PRIME US will continue to use their rental cashflow to pay
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