Manulife US Reit posts 2% fall in Q3 DPU on enlarged unit base

Singapore

MANULIFE US Reit on Monday posted a 2 per cent fall in its third-quarter distribution per unit (DPU) to 1.48 US cents for the three months ended Sept 30, down from 1.51 US cents a year ago.

This was mainly due to an enlarged unit base following a placement and preferential offering to partially fund its US$198.8 million acquisition of 400 Capitol Mall, in Sacramento, California.