Corporate digest

Manulife US Reit

MANULIFE US Reit has entered into a purchase agreement with a vendor to acquire an office building in New Jersey, US, for US$115 million. The building, named 500 Plaza Drive, is an 11-storey Class A office building in New Jersey, and is only about five kilometres to the west of New York City's Midtown Manhattan.

The Reit manager said that the purchase will be financed by a combination of debt and equity and a proposed private placement, respectively. It will announce its final decision on the proportion of equity and debt financing at another time.