Investor FAQs

What is Keppel-KBS US REIT?
What is Keppel-KBS US REIT's investment and growth strategy?
Who are the sponsors of Keppel-KBS US REIT?
What is the stock symbol of Keppel-KBS US REIT?
What is the distribution policy under Keppel-KBS US REIT?
What is the distribution currency of Keppel-KBS US REIT?
How and when will income distribution be made available to Unitholders?
Are there any restrictions on the ownership of the units under Keppel-KBS US REIT?
Is the distribution income from Keppel-KBS US REIT subject to any tax?
How do I seek a refund for withholding tax?


What is Keppel-KBS US REIT?

Keppel-KBS US REIT is a distinctive office REIT with properties in the key growth markets of the United States.  Keppel-KBS US REIT focuses on investing in a diversified portfolio of income-producing commercial real estate assets in the key growth markets of the United States.

As at 30 June 2017, the REIT has over US$800 million worth of assets under management which comprises a mix of 11 office properties located in the central business districts and suburban areas in seven key growth markets in the West Coast, Central and East Coast regions of the United States.

What is Keppel-KBS US REIT's investment and growth strategy?

Keppel-KBS US REIT will actively manage its property portfolio with the objective of achieving growth in Gross Revenue and Net Property Income and at the same time, expand its portfolio by acquiring quality income-producing office properties to provide sustainable returns to Unitholders and provide opportunities for future income and capital growth.

Who are the sponsors of Keppel-KBS US REIT?

Keppel Capital is the asset management arm of Keppel Corporation Limited, which manages a diversified portfolio of real estate, infrastructure and data centre assets in approximately 30 cities across key global markets. Keppel Capital's assets under management which comprise of REITs, trusts and funds, grew from about S$2 billion in 2006 to S$29 billion as at November 2017.

KPA's shareholders include Peter McMillan III and Keith D. Hall, who are co-founding partners of KBS and together they indirectly hold a one-third stake of KBS. As KPA is a co-sponsor of Keppel-KBS US REIT, the Manager is able to leverage KPA's affiliation with KBS, one of the largest owners of office properties globally with over 40 million square feet in net lettable space across the US.

Since its inception in 1992, KBS has completed over US$33 billion of transactional volume. With over 180 personnel across key US cities, KBS manages over US$11 billion of assets in seven listed REITs and nine private funds.

Through the association with Keppel Capital and KBS, the Manager will be able to harness synergies from two best-in-class management platforms to deliver long-term sustainable distributions and total returns to Unitholders. 

What is the stock symbol of Keppel-KBS US REIT?

ISIN code SG1EA1000007
SGX Counter Code CMOU
Bloomberg KORE

What is the distribution policy under Keppel-KBS US REIT?

Keppel-KBS US REIT's distribution policy is to distribute 100.0% of Keppel-KBS US REIT's Annual Distributable Income for the period from Listing Date to the end of Projection Year 2019. Thereafter, Keppel-KBS US REIT will distribute at least 90.0% of its Annual Distributable Income for each financial year.

What is the distribution currency of Keppel-KBS US REIT?

Distributions from Keppel-KBS US REIT to Unitholders will be declared in US dollars. Each Unitholder will receive his distribution in Singapore dollars equivalent to the US dollar distribution declared, unless he elects to receive the relevant distribution in US dollars by submitting a "Currency Election Form" by the relevant cut-off date. CDP, the Manager, The Trustee or Keppel-KBS US REIT shall not be liable for any loss arising from the conversion of distributions payable to Unitholders from US dollars into Singapore dollars.

For approved depository agents acting as nominees of their customers, each Unitholder may elect to receive his entire distribution in Singapore dollars or US dollars and shall not be able to elect to receive distributions in a combination of Singapore dollars and US dollars. 

How and when will income distribution be made available to Unitholders?

Keppel-KBS US REIT's distributions take place on a semi-annual basis, with the amount calculated as at 30 June and 31 December of each year.

The Manager endeavours to pay distributions no later than 90 days after the end of each distribution period.

Are there any restrictions on the ownership of the units under Keppel-KBS US REIT?

Unitholders of Keppel-KBS US REIT and all other persons are prohibited from directly or indirectly owning in excess of 9.8% of the outstanding Units, subject to any increase or waiver pursuant to the terms of the Trust Deed and on the recommendation of the Manager.

Is the distribution income from Keppel-KBS US REIT subject to any tax?

Unitholders are required to comply with certain documentation requirements or will be subject to US withholding tax of 30% under the IRC, including under FATCA.

Unitholders must establish their status for FATCA purposes and their eligibility for the US Portfolio Interest Exemption by providing an IRS Form W-8 (as applicable, Form W-8BEN, Form W-8BEN-E, Form W-8ECI, Form W-8EXP, and Form W-8IMY or applicable successor forms).

For more information on taxation, click here

How do I seek a refund for withholding tax?

Unitholders can refer to the United States Internal Revenue Service website at https://www.irs.gov/ for tax refund information. Unitholders should seek advice from their tax advisors with regards to their submission.

To be exempted from withholding tax for future distributions, we urge Unitholders to submit the applicable Form W-8, which will generally remain valid from the date signed until the last day of the third succeeding calendar year. For example, a form signed on 31 December 2017 will remain valid through 31 December 2020. All US Tax Forms cease to be valid upon any change in circumstance that renders a previously submitted US Tax Form inaccurate (in which case, a new US Tax Form will have to be submitted within 30 days).

Please refer to http://www.kepkbsusreit.com/en/content.aspx?sid=7424 for more information. The applicable tax forms, as well as instructions to complete the forms, can be found on http://www.kepkbsusreit.com/en/content.aspx?sid=7424.

Unitholders can also contact Boardroom at +65 6536 5355 for more information.


IR Contact

For investor enquiries, please contact: enquiries@kepkbsusreit.com