SINGAPORE (Aug 13): The manager of Manulife US Real Estate Investment Trust (Manulife US REIT) has declared a DPU of 1.53 US cents, up 17.7% from 1.30 cents declared for the same quarter last year.
Manulife US REIT says that there was a drag on 2Q18 and 1H18 DPU figures due to issuance of the Preferential Offering Units to partially fund Penn and Phipps acquisitions while income contribution from Penn and Phipps properties was only from June 22 2018 to June 30 2018.
Gross revenue for the quarter came in at US$43.3 million ($60.1 million), 33.2% higher than US$32.5 million a year ago, largely primarily to revenue contributions from Centerpointe acquired in May and Penn and Phipps properties for the entire 2Q19.
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