Manulife US Reit lifts Q1 DPU above forecast

Singapore

OFFICE landlord Manulife US Real Estate Investment Trust (Reit) is on the lookout for purchases, it suggested Tuesday morning, as rent hikes and higher carpark income lifted its fiscal first-quarter distributions above forecast despite gross revenue coming in below projections.

"We remain confident in the overall US commercial real estate market and will continue to seek investment opportunities that will deliver long term value to unitholders," the Reit manager's chief executive officer Jill Smith said in a Singapore Exc…