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Reits in high-growth markets should gun for short leases: KORE CEO Snyder

He believes this enabled Keppel Pacific Oak US Reit's portfolio to generate 14.7% rent reversions in H1.

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''I don't care if it's an up or down economy, WALEs should be short if you have good buildings in good markets. And that's because your (potential) rent growth should exceed what you can build into your leases,'' says Mr Snyder.

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Since listing, Keppel Pacific Oak US Reit has expanded its portfolio with three acquisitions – the Westpark Portfolio in Seattle, Maitland Promenade I in Orlando, and One Twenty Five (above) in Dallas.

DAVID Snyder, the CEO of Keppel Pacific Oak US Reit (KORE), doesn't believe in long weighted average lease expiries (WALEs), because he thinks it prevents landlords from realising positive rent increases for good properties located in strong markets.

"The stronger your market, the shorter...

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