Manulife US Reit posts 91.7% occupancy in Q1; expects positive rental reversion
Add BT as a preferred source
Jude Chan &
Vivienne Tay
DeeperDive is a beta AI feature. Refer to full articles for the facts.
US office-focused Manulife US Real Estate Investment Trust (Manulife US Reit) on Monday (May 9) said that portfolio occupancy for the first quarter ended Mar 31 dipped to 91.7 per cent, down 0.6 percentage point from 92.3 per cent as at end-2021.
The manager noted that occupancy remained above the US Class A average of 83 per cent.
At a briefing accompanying the operational update, the Reit manager said the decline in occupancy was largely due to 2 tenants at its Peachtree and 10 Exchange Place properties that vacated over 20,000 square feet (sq ft).
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
