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Sudden surge in Manulife US Reit’s gearing a defining moment for manager, sponsor group

One possible solution: suspend all fees payable by the Reit, and appeal to unitholders to accept a distribution reinvestment programme

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Ben Paul

Ben Paul

Published Mon, Jan 9, 2023 · 05:50 AM
    • Among the major obstacles to Manulife US Reit addressing its leverage problem are that interest rates are rising and emerging hybrid work arrangements are creating uncertainty in the office property sector
    • Among the major obstacles to Manulife US Reit addressing its leverage problem are that interest rates are rising and emerging hybrid work arrangements are creating uncertainty in the office property sector BT FILE

    AT THE end of the second last trading day of 2022, unitholders of Manulife US Reit already knew they had endured a really bad year – with the market value of their units down nearly 54 per cent.

    The following day, however, things got much worse.

    Before the market opened on Friday, Dec 30, investors learned that the value of the property assets held by Manulife US Reit would be marked down by 10.9 per cent to less than US$1.95 billion.

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    BT Correspondentsmanulife us reitS-Reits

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