Keppel Pacific Oak US REIT (SG:CMOU) has released an update.
Keppel Pacific Oak US REIT Management Pte. Ltd. has secured a $30 million revolving credit facility, with specific stipulations tied to the management structure and shareholding of the managing entities. The loan must be fully repaid if there are significant changes in the management or ownership of Keppel Capital Holdings Pte. Ltd. or Keppel Ltd.’s stake in the REIT Manager. As of now, Keppel Pacific Oak US REIT has not triggered any of these conditions that could affect approximately $725 million in additional borrowing facilities.
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