Manulife Reit coy about location of next acquisition

Singapore

THE management of Manulife US Reit, which over the weekend announced its acquisition of an office building in New Jersey for US$313.2 million, is keeping mum on which other US cities it is planning to expand into next.

One thing clear though is that it will probably not enter gateway cities such as New York because of low office yields there.

On Saturday, the pure-play US Reit said it will undertake a rights issue to raise US$208 …