Keppel Pacific Oak US REIT's (SGX:CMOU) income available for distribution during the first quarter of the year plummeted 19% to $9.6 million from $11.9 million a year earlier, according to a filing with the Singapore Exchange on Thursday.
Net property income dropped 6.2% year on year to $19.7 million from $21.0 million during the period, due to lower rental income.
Gross revenue declined slightly by 0.5% on year to $36.9 million from $37.1 million.
Shares of the REIT were down nearly 2% in recent trading.
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