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Manulife US REIT's 10 Exchange Place acquisition to help diversify its portfolio, tenant mix

PC Lee
PC Lee9/5/2017 10:47 AM GMT+08  • 2 min read
Manulife US REIT's 10 Exchange Place acquisition to help diversify its portfolio, tenant mix
SINGAPORE (Sept 5): RHB says Manulife US REIT’s acquisition of 10 Exchange Place in New Jersey will further diversify its portfolio both geographically and in terms of tenant mix.
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SINGAPORE (Sept 5): RHB says Manulife US REIT’s acquisition of 10 Exchange Place in New Jersey will further diversify its portfolio both geographically and in terms of tenant mix.

The target is a freehold Class A property that is well located, with prominent frontage along the Hudson river waterfront and offers excellent connectivity to New York City.

The property’s pro-forma FY16 NPI yield of 5.7% also has upside potential from rental growth as average rents are well below market.

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