Manulife US Real Estate Investment Trust (Reit) is divesting an office building located in Sacramento, California, for US$117 million.

The price is subject to Manulife US Reit’s credit and customary closing prorations and adjustments, said the Reit manager on Monday (Sep 30). CBRE, which is the independent property valuer of the deal, has valued the asset at US$118 million as at Sep 1.