Keppel Pacific expands U.S. portfolio

Keppel Pacific Oak US REIT Management Pte. Ltd., as manager of Keppel Pacific Oak US REIT (KORE) has made two U.S. acquisitions, office buildings — Bridge Crossing in Nashville and 105 Edgeview in Denver for a total of $105.1 million.

The breakdown of acquisitions consists of $46 million for Bridge Crossing and $59.1 million for 105 Edgeview.

Nashville and Denver are two of the six new favorite “boomtowns” for the young talent pool in the United States in a trend that researchers are calling “the Great American Move”. Known also as 18-hour cities, Nashville and Denver are highly coveted destinations due to their lifestyle, culture and employment opportunities. Besides Nashville and Denver, other 18-hour cities include Seattle and Austin, where KORE has a presence.

As of June 2021, Bridge Crossing and 105 Edgeview are 100 percent leased to tenants mainly in the fast-growing and defensive technology sector. They include the anchor tenant at Bridge Crossi