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MUST reports DPU of 2.61 US cents, sees office use in 'once-in-a generation upheaval'

The Edge Singapore
The Edge Singapore8/4/2022 07:56 AM GMT+08  • 2 min read
MUST reports DPU of 2.61 US cents, sees office use in 'once-in-a generation upheaval'
Tripp Gantt, CEO of the REIT’s manager, warns of a “once-in-a generation upheaval” in office use / Photo: Manulife US REIT
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Manulife US REIT, which owns a portfolio of US office properties, has reported a distribution per unit of 2.61 US cents for 1HFY2022 ended June, down 3.3% y-o-y, as the unit base became larger from a private placement.

Net property income was up 2.8% y-o-y to US$57.6 million and distributable income was up 6.9% y-o-y to US$46 million.

Revenue, meanwhile, was up 10.6% y-o-y to US$100.4 million, due to contributions from three newly-acquired properties, Tanasbourne, Park Place and Diablo.

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