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 2,252,087 sq ft.

Portfolio consists of Figueroa in Los Angeles, Michelson in Irvine, Peachtree in Atlanta, Plaza in Secaucus, and Exchange1 in Jersey City.

Portfolio Summary (As at 30 Sep 2017)
Total Valuation2,3 US$973.5 million
Total Net Lettable Area (sq ft) 2,252,087 sq ft
WALE (by NLA) 5.9 years
Occupancy 95.7%
Land Tenure 100% Freehold
Number of Tenants 76
  • Exchange's acquisition was only completed on 1 Nov 2017.
  • Existing portfolio property values based on independent valuations by CBRE as at 30 Jun 2017.
  • Plaza property value based on independent valuation by Cushman & Wakefield as at 2 Jun 2017.

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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Plaza

500 Plaza Drive,
Secaucus, New Jersey

Plaza is a 11-storey Class A office building with 461,525 sq ft of leasable area, located in Secaucus, New Jersey. The Property underwent major refurbishment in 2015 and 2016, with improvements to the amenities and substantial upgrades to the finishes and grounds.

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Exchange

10 Exchange Place
Jersey City, New Jersey

Exchange is located at 10 Exchange Place in Jersey City, New Jersey, with outstanding transportation links through interstate highways and three major airports, Newark, LaGuardia and John F. Kennedy. The property allows tenants to step out and travel directly to NYC through Exchange Place Station (PATH) in 10 minutes,

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Portfolio Statistics

As at 30 Sep 2017 Figueroa Michelson Peachtree Plaza Exchange1
Location Los Angeles Irvine Atlanta Secaucus Jersey City
Usage Office Office Office Office Office
Land Tenure Freehold Freehold Freehold Freehold Freehold
Completion Year 1991 2007 1991 1985 1988
Parking Stalls 841 2,744 1,221 1,474 467
NLA (sq ft) 701,977 532,663 555,922 461,525 730,598
Valuation (US$ million)2,3,4 325.0 342.0 190.5 116.0 333.0
WALE by NLA (years) 5.1 4.6 5.7 8.6 5.8
Number of Tenants 29 15 25 7 25
Occupancy Rate5 92.1% 96.5% 96.8% 98.9% 97.0%

Notes:

  • Exchange's acquistion was only completed on 1 Nov 2017.
  • Existing portfolio property values based on independent valuations by CBRE as at 30 Jun 2017.
  • Plaza property value based on independent valuation by Cushman & Wakefield as at 2 Jun 2017.
  • Exchange property value based on the average of the independent valuations by Colliers and RERC as at 18 Jul 2017 and 11 Jul 2017 respectively.
  • Committed occupancy as at 30 Sep 2017.