Keppel Pacific Oak US REIT's (SGX:CMOU) net property income fell by 2.2% during the nine months ended Sept. 30 to $63.2 million from $64.6 million a year earlier, according to a Tuesday filing with the Singapore Exchange.

Income available for distribution fell 15% to $30.4 million from $35.7 million, due to lower cash rental income.

Gross revenue fell slightly by 0.1% to %112.1 million from $112.0 million.

Occupancy meanwhile, remained relatively stable at 88.0%.

Shares of the REIT were up nearly 7% in Tuesday trading.