Manulife US REIT will not pay distribution for the first semester of 2023 as its high level of leverage is now in breach of of banks' covenants:

The manager of the Reit reported on Monday (Aug 14) a 17.4 per cent decline in distributable income to US$37.9 million in H1 2023 from US$46.0 million in the corresponding year-ago period.