First Pure-Play US
Office REIT Listed in Asia
Manulife US REIT is a Singapore listed REIT established with the investment strategy principally to invest, directly or indirectly, in a portfolio of income-producing office real estate in key markets in the United States, as well as real estate-related assets.
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Properties
US$ b
Assets under Management
m sq ft
Net Lettable Area
US$ m
Market Capitalisation
As at 30 September 2023
Recapitalisation Plan
Manulife US REIT (MUST) will be convening an extraordinary general meeting (EGM) on 14 December 2023, and seeks Unitholders' support to vote on all three resolutions.
MUST has announced a holistic funding plan to revitalise and reinforce the REIT. The Manager had in July 2023 announced that its 1H 2023 portfolio valuations had declined by 14.6%, resulting in the breach of a financial covenant in the REIT’s existing facilities. Since then, the Manager, alongside the Sponsor, has engaged with the Lenders regarding the restructuring of the facilities and waivers in relation to the breach. Details of the Recapitalisation Plan can be found in the Circular dated 29 November 2023.
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Highlights on Manulife US REIT
Mission
To provide Unitholders with sustainable distributions while maintaining an appropriate capital structure
Our Properties
Manulife US REIT’s portfolio encompasses 11 high-quality office buildings located in key U.S. markets with an NLA of 5.3 million sq ft and long WALE of 5.1 years as at 30 September 2023.
Board of Directors
The Board comprises an experienced and professional team with diverse talents and backgrounds.
Viewpoints
Discover, read and share Manulife US REIT’s thought leadership content on the U.S. economy and the office sector.
Growing a Sustainable Business
As a responsible corporate citizen, Manulife US REIT is focused on integrating ESG issues in the way we operate so that we can futureproof our business and continue to deliver long-term value to our stakeholders.
