Manulife US REIT to Dispose of US Property for Nearly $93 Million

MT Newswires

03/30

Manulife US REIT (SGX:BTOU) has proposed to divest its property in Los Angeles, US, for $92.5 million, according to a Monday filing with the Singapore Exchange.

The property is a 35-story office building and the divestment is expected to conclude in the second quarter of the year.

Proceeds from the divestment will be used to make an early repayment of a loan amount due in 2026 and to partially repay loans due in 2027, the filing said.

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