Manulife US REIT (SGX:BTOU) through its indirect wholly owned subsidiary, Hancock S-REIT ATL, has agreed to sell its property located at 1100 Peachtree, Atlanta, Georgia, for $133.8 million, according to a filing with the Singapore Exchange on Sunday.
The property named Peachtree is a freehold 28-story Class A office building with a net lettable area of 560,629 square feet.
The divestment is expected to be completed during the second quarter of the year.
Proceeds from the divestment will be utilized for an early partial repayment of the REIT's outstanding loans due in 2026.
Shares of the REIT were up over 5% in recent trading.
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