---
title: "Keppel REIT sells Tokyo office for $91m, exits asset"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296295481.md"
description: "Keppel REIT sold its 98.47% stake in Tokyo's KR Ginza II for $90.9m, realizing a 28.4% premium over its 2022 purchase price. The divestment was completed on August 17, 2026, marking the REIT's exit from this asset. Consequently, Keppel REIT no longer holds interest in the property. In the first half of 2026, net property income rose 13.1% to $122.5m, while distributable income increased 25.2%. However, distribution per unit fell 4% to 2.61 cents due to an enlarged unit base."
datetime: "2026-08-19T03:08:26.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296295481.md)
  - [en](https://longbridge.com/en/news/296295481.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296295481.md)
generator: "portal-rs"
---

# Keppel REIT sells Tokyo office for $91m, exits asset

**The sale price was 28.4% above its 2022 purchase price.**

Keppel REIT has completed the divestment of its 98.47% interest in KR Ginza II, a freehold boutique office building in Tokyo, for $90.9m (JPY11.52b).

The divestment was completed on 17 August 2026, Keppel REIT Management, the manager of Keppel REIT, said.

The sale price represents a 28.4% premium over the REIT’s November 2022 purchase price and is 9.7% above its latest valuation.

Following the divestment, Keppel REIT no longer holds any interest in KR Ginza II. Its portfolio committed occupancy is expected to reach 96%, whilst its weighted average lease expiry will remain at 4.5 years.

Keppel REIT’s net property income rose 13.1% year on year to $122.5m in the first half of 2026, mainly driven by contributions from Top Ryde City Shopping Centre.

Excluding the shopping centre, NPI grew 2.5% year on year. Property income increased 16.7% to $159.3m, whilst distributable income from operations rose 25.2% to $119.6m.

Distribution per unit fell 4% to 2.61 cents due to an enlarged unit base.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**