Keppel Pacific Oak US REIT Management Pte. Ltd., as Manager of Keppel Pacific Oak US REIT (KORE), is pleased to announce the appointment of Ms Sharon Riley Wortmann as an independent non-executive director with effect from 20 April 2021.

Ms Wortmann is based in Ontario, California, and is currently a Senior Vice President in JLL Industrial Services Group. She joined JLL in 2017, and her areas of specialisation include landlord and tenant leasing representation, joint venture equity sourcing and structuring as well as investment and portfolio sales advisory. She is also a Board member of the Inland Empire Chapter of the NAIOP, a commercial real estate development association based in the US.

Ms Wortmann has more than 30 years of experience in the real estate sector, with a strong track record of managing, developing and implementing investment strategies across large and small platforms with multiple investment objectives. Prior to her role at JLL, she was at CBRE Capital Markets and was part of the National Partners Industrial Team based in Los Angeles where she focused on industrial asset debt placement and equity sourcing.

Before joining CBRE, Ms Wortmann was an Acquisitions Director at Colony Capital, Inc., where she was responsible for creating and implementing an investment strategy for the West Coast region, which included direct equity and structured debt investments on behalf of Colony Capital REIT, multiple investment funds and separate accounts. Before that, she was an Acquisitions Director at Metropolitan Life Insurance Co., where she was responsible for the West Coast region’s equity investment strategy, joint ventures, development and mortgage production. She also held other roles in her career, including Director in the Capital Markets Group at Cushman & Wakefield and Vice President at Morgan Stanley, where she coordinated disposition and acquisition efforts for third-party clients and investment funds.

Mr Peter McMillan III, Chairman of Keppel Pacific Oak US REIT Management, said, “We are pleased to have Sharon join our Board. We believe that having a diverse Board is pivotal to good governance and KORE’s long-term sustainable performance. With Sharon’s deep experience in the real estate sector, Keppel Pacific Oak US REIT will benefit from her perspectives and insights, as we continue to work towards providing sustainable distributions and strong total returns for Unitholders.”

Ms Wortmann was recently named as one of California’s Most Influential Women in Real Estate by Globe Street’s Real Estate Forum magazine and Connect Media’s 2019 Women in Real Estate. She holds a Bachelor of Business Administration in Real Estate Finance and Urban Development, with a minor in International Business, from the Georgia State University.

Following the abovementioned changes, the Board of Keppel Pacific Oak US REIT Management will comprise six directors, of whom four are independent directors.

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About Keppel Pacific Oak US REIT (www.koreusreit.com)

Keppel Pacific Oak US REIT (KORE) is a distinctive office REIT listed on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST) on 9 November 2017. KORE's investment strategy is to principally invest in a diversified portfolio of income-producing commercial assets and real estate-related assets in key growth markets of the United States (US) with positive economic and office fundamentals, so as to provide sustainable distributions and strong total returns for Unitholders. KORE is managed by Keppel Pacific Oak US REIT Management Pte. Ltd., which is jointly owned by two Sponsors, Keppel Capital and KORE Pacific Advisors (KPA).

KORE's portfolio comprises a balanced mix of 13 freehold office buildings and business campuses across eight key growth markets driven by innovation and technology in the US. The assets have a combined value of US$1.30 billion and an aggregate net lettable area of over 4.7 million sf. KORE has an extensive and diversified tenant base, some of which are from the growth and defensive sectors such as technology, as well as medical and healthcare, which will continue to support and drive growth.

KORE is a technology-focused office REIT with over 50% of the portfolio located in the technology hubs of Seattle – Bellevue/Redmond, Austin and Denver. The remainder of the portfolio is located in the key growth markets of Houston, Dallas, Orlando, Sacramento and Atlanta.