Manulife US Real Estate Investment Trust has received an initial deposit of US$1.85 million from the City of Los Angeles, acting through its Department of Water and Power, for the planned divestment of the Figueroa property at 865 South Figueroa Street in Los Angeles, California, the manager said on May, 12 2026.

The payment was made under the Purchase and Sale Agreement first disclosed on Mar, 30 2026. Completion of the transaction is expected within the second quarter of 2026.

Following the sale, the trust will own six properties in the United States with a total net lettable area of about 2.8 million square feet.

The manager said it will provide further updates once the divestment is completed.