manulife us reit

The real estate investment trust’s manager answers pointed questions from unitholders

It seeks mandates for US$350 million in divestments and US$600 million in acquisitions

The government department makes up 5.3% of the Reit’s total gross rental income

Some 81,000 sq ft of leases have been executed in the quarter, making up 2.3% of the portfolio’s net lettable area

The worst could be over, with interest rates now edging downwards, and leasing demand and occupancy metrics improving across major office markets

Investor sentiment towards the sector appears to be stabilising, but recovery among players remains uneven

Net property income stands at US$30.2 million for the half-year, down 29.5% from US$42.8 million in the year-ago period

It can dispose up to four non-core assets to third-party buyers in order to raise minimum net sales proceeds of US$328.7 million

Drop largely due to the expiry of leases at its Diablo property in the submarket of Tempe, Arizona