Manulife US REIT's (SGX:BTOU) distributable income per unit declined by 31% in the second half of 2025 to $0.006 from $0.0087 a year earlier, according to a Wednesday filing with the Singapore Exchange.
Income available for distribution fell by 31% to $10.6 million from $15.4 million in the year-ago period.
Net property income dropped by 38% to $23.0 million from $37.1 million a year earlier.
Gross revenue tanked 34% year over year to $53.5 million from $80.8 million, mainly due to lower lease termination income.
Portfolio occupancy dipped to 67.7%, driven by tenant vacates at Diablo.