Manulife US REIT Snaps Up 2 New Properties

News about Manulife US REIT

Manulife US REIT is buying 2 office towers in the USA for a combined US$387M:

  1. At 1750 Pennsylvania Ave in Washington DC, a 13 storey Class A office tower for $182M
  2. In Buckhead, Atlanta, a 19 storey tower for $205M

Both acquisitions will be financed with debt.

Manulife US REIT
Price0.735 USD
NAV0.700 USD
Yield (4 quarters)7.67%
Gearing41.3%