Manulife US REIT Buys 3 Properties, Makes Private Placement

News about Manulife US REIT

Manulife US REIT is announcing the purchase of three American office properties for a total of US$201.6 million:

  • Diablo Technology Park in Tempe, Phoenix area, a business park
  • Park Place in Chandler, Phoenix area, a set of two office campus buildings
  • Tanasbourne Commerce Center in Hillsboro, Portland area, a set of three flex-office buildings

All properties are freehold and leased to multiple tenants and have a weighted average of 93.4% occupancy and 5.9 years WALE.

In order to finance the operation, a private placement of about US$80.0 Million has been launched along with an advanced distribution to current shareholders.

Manulife US REIT
Price0.055 USD
NAV0.380 USD
Yield (4 quarters)38.91%