Manulife US Reit's H1 DPU drops 11.5% to 2.7 US cents

Singapore

US-FOCUSED office property landlord Manulife US Real Estate Investment Trust (Manulife US Reit) on Thursday announced a distribution per unit (DPU) of 2.7 US cents for the six months ended June 30, down 11.5 per cent from the year-ago period.

Distributable income fell 10.4 per cent to US$43 million, largely due to lower rental income from Michelson, Centerpointe and Capitol arising from higher vacancies, rent abatements to tenants, and lower portfolio car park income.