Portfolio Overview

Our Portfolio of Assets

The portfolio of Manulife US REIT comprises three office properties in the United States, with an aggregate net lettable area of 1,783,079 sq ft.


The IPO

Portfolio consists of Figueroa in Los Angeles, California, Michelson in Irvine, California and Peachtree in Atlanta.

Portfolio Summary (As at 31 Dec 2016)
Total Valuation1 US$833.8 million
Total Net Lettable Area (sq ft) 1,783,079 sq ft
WALE (by NLA) 5.8 years
Occupancy 97.0%
Land Tenure 100% Freehold
Number of Tenants 71

1 Based on the independent valuation by CBRE, Inc.

Our Properties

Figuereoa

Figueroa

865 South Figueroa Street
Los Angeles, California

A 35-storey granite and reflective glass office tower located in Downtown Los Angeles, California in the immediate vicinity of entertainment venues including LA Convention Center, Staples Center and LA Live.

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Michelson

Michelson

3161 Michelson Drive
Irvine, California

A state-of-the-art 19-storey, high-rise Trophy office building strategically located between Los Angeles and San Diego, surrounded by hotels, high-end condominiums and apartments, restaurants, and a wide range of retail options.

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Peachtree Street

Peachtree

1100 Peachtree Street
Atlanta, Georgia

A 27-storey Class A office building located in a prominent location on Peachtree Street within the Midtown submarket of metropolitan Atlanta. The building's amenities include a high-end seafood restaurant, a sandwich cafe, news and sundries shop, a brand new fitness centre and a large conference centre.

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Portfolio Statistics

As at 31 Dec 2016 Figueroa Michelson Peachtree Total/ Average
Location Los Angeles Irvine Atlanta -
Usage Office Office Office -
Land Tenure Freehold Freehold Freehold -
Completion Year 1991 2007 1991 -
Parking Stalls 841 2,744 1,221 4,806
NLA (sq ft) 694,534 532,603 555,942 1,783,079
Valuation (US$ million) 312.5 334.6 186.7 833.8
NPI (US$ million)(1) 9.7 12.7 7.6 30.0
WALE by NLA (years) 5.8 5.4 6.2 5.8
Number of Tenants 30 16 25 71
Occupancy Rate 97.5% 99.1% 94.4% 97.0%

Notes:

  • Based on the independent valuation by CBRE, Inc.