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Manulife US Reit Q4 DPU up 7.7% on acquisitions

Singapore

MANULIFE US Reit (MUST) has posted a distribution per unit (DPU) of 1.53 US cents in the fourth quarter, up 7.7 per cent from 1.42 US cents a year ago, boosted by acquisitions.

For the three months ended Dec 31, distributable income rose 33.8 per cent to US$19.6 million.

Net property income rose 38.4 per cent to US$25.5 million, lifted by the acquisitions of two office buildings in 2018 - Penn in Washington DC and Phipps in Atlanta - as well as the full-quarter income contribution from Exchange...

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