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Manulife US REIT reports 2Q DPU of 1.30 US cents, down 17.2% from a year ago on preferential offering

PC Lee
PC Lee8/6/2018 08:11 AM GMT+08  • 2 min read
Manulife US REIT reports 2Q DPU of 1.30 US cents, down 17.2% from a year ago on preferential offering
SINGAPORE (Aug 6): The trustee-manager of Manulife US Real Estate Investment Trust (Manulife US REIT) reported lower 2Q18 and 1H18 DPU largely due to the drag from the enlarged unit base from the issuance of preferential offering.
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SINGAPORE (Aug 6): The trustee-manager of Manulife US Real Estate Investment Trust (Manulife US REIT) reported lower 2Q18 and 1H18 DPU largely due to the drag from the enlarged unit base from the issuance of preferential offering.

For the 2Q18, DPU came in at 1.30 US cents, 17.2% lower compared to a year ago over the enlarged unit base. This brings 1H18 DPU to 2.53 US cents. The distributions will be paid to unitholders on Sept 27.

The first pure-play US office REIT listed in Asia recorded gross revenue of US$32.5 million, which was 63.4% higher than 2Q17. This was mainly due to contributions from the acquisitions of Plaza and Exchange in New Jersey which was made last year, Phipps in Atlanta acquired this year and newly acquired Penn in Washington D.C.

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