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Manulife US Reit raises US$94 million

The new units will raise the Reit's free float market cap to US$1.1b, near the US$1.2b threshold that will qualify the counter for inclusion in global property indices

Significant portions of the proceeds will pay for part of Manulife US Reit's US$122 million acquisition of two freehold office towers, Centerpointe I & II, in Fairfax, Virginia.


MANULIFE US Reit has raised US$94 million by issuing 114.1 million new units at US$0.824 apiece. The issue price represents a 5.29 per cent discount to the unit's closing price of US$0.87 on Tuesday.

The real estate investment trust (Reit) said that the latest private...

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