KORE US REIT Secures US$120 Million Loan Facility to Extend 2027 Debt Maturities

SINGAPORE — Sept. 9, 2026 — KORE US REIT has secured a new US$120 million loan facility that is expected to address approximately 65% of the trust's term loans maturing in 2027, the manager announced Tuesday, continuing a series of proactive refinancing moves aimed at smoothing the trust's debt maturity profile ahead of a concentrated 2027 repayment wall.

Facility Details and Capital-Structure Impact

KORE US REIT Management Pte. Ltd., the manager of KORE US REIT, said the new facility will, upon drawdown, extend the trust's weighted average debt maturity from 1.7 years to 2.1 years on a pro forma basis, calculated as of June 30, 2026. The 65% coverage figure excludes uncommitted revolving credit lines.

The trust also has no term loans due for the remainder of 2026, having previously refinanced all 2025 and 2026 maturities. Earlier this year, KORE executed US$152.5 million in loan facilities to address those near-term obligations. The new US$120 million facility now targets the bulk of the 2027 tranche, leaving a residual portion that the manager can address closer to maturity.

The latest transaction follows a US$40 million committed revolving credit facility KORE closed in the second quarter of 2026, which the manager said strengthened the trust's liquidity position and broadened its available funding sources.

"This refinancing is another step in strengthening KORE's capital structure and addressing our debt maturities well ahead of schedule," said David Snyder, CEO of KORE US REIT Management. "With the continued support of our financing partners, we remain focused on maintaining financial flexibility while executing our leasing and asset management strategies to deliver sustainable distributions and long-term value to Unitholders."

Portfolio Context: 13 Buildings, US$1.3 Billion in Assets

KORE US REIT, formerly known as Keppel Pacific Oak US REIT and listed on the Main Board of the Singapore Exchange Securities Trading Limited since November 2017, holds a portfolio of 13 freehold office buildings and business campuses across eight U.S. markets. As of June 30, 2026, the combined asset value stood at approximately US$1.3 billion, with total net lettable area exceeding 4.8 million square feet.

The trust's investment strategy targets markets it characterizes as the Super Sun Belt, 18-Hour Cities, and Supernovas — growth-oriented markets outside traditional gateway central business districts. The tenant base is anchored in technology, advertising, media and information, and medical and healthcare sectors.

Portfolio committed occupancy stood at 85.3% as of June 30, 2026, down from 88.2% a year earlier, in part reflecting a known large-tenant vacate at the Westpark Portfolio in Redmond, Washington, during the first quarter of 2026. A subsequent 10-year, 32,000-square-foot lease at Westpark, signed in August 2026, lifted committed occupancy at that asset from 73.0% to 77.1% and raised overall portfolio occupancy to 86.0% on a pro forma basis.

For the first half of 2026, KORE reported record leasing volume of 550,522 square feet, representing 11.5% of portfolio net lettable area.

Broader Office REIT Refinancing Environment

The financing comes as U.S. office REITs broadly contend with elevated vacancies, wide capitalization rates, and discounted equity valuations that have complicated access to debt capital markets. By addressing the majority of its 2027 maturities more than a year in advance, KORE is seeking to reduce refinancing risk during a period when office property values and lending standards remain in flux.

The combination of the US$152.5 million in facilities addressing 2025 and 2026 maturities, the US$40 million revolving credit facility, and the new US$120 million facility represents a sequenced approach to extending the trust's debt ladder while preserving liquidity for ongoing leasing and asset management activity.

About KORE US REIT

KORE US REIT — where KORE stands for Keppel Office Real Estate — is managed by KORE US REIT Management Pte. Ltd., which is jointly owned by sponsors Keppel and KORE Pacific Advisors. The trust aims to invest in income-producing commercial and real estate-related assets across key U.S. growth markets.

Sources: KORE US REIT press release, Sept. 9, 2026