‘All the signs are positive’: Manulife US Reit manager sees improved outlook on US office recovery
Some 81,000 sq ft of leases have been executed in the quarter, making up 2.3% of the portfolio’s net lettable area
Nathania Chew &
Shikhar Gupta
[SINGAPORE] The manager of Manulife US Real Estate Investment Trust (Manulife US Reit) believes things are starting to look up for the US office-focused Singapore-listed Reit, as market conditions improve.
“There is improvement, we’re seeing it. We’re seeing institutional buyers slowly come back into the market again… We’re seeing lenders start lending again on multi-tenant offices,” said John Casasante, chief executive officer and chief investment officer of the Reit’s manager, at a media briefing on Wednesday (Nov 5).
He added: “All the signs are positive. They’re all moving in the right direction at the moment. Unfortunately, it’s just moving slowly – that has been the biggest issue for us.”
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