(Sept 18): This coming week, at an extraordinary general meeting (EGM) scheduled for Sept 19, unitholders of Manulife US REIT will be asked to vote on the proposed acquisition of a building called 10 Exchange Place in Jersey City, New Jersey for US$312 million ($422 million), and a 41- for-100 rights issue of 299.29 million new units at a deeply discounted price of 69.5 US cents each. Giving their consent for these moves will enable the manager of Manulife US REIT to expand and diversify the real estate investment trust’s portfolio and boost its distributable income. It would also enable the manager to pocket higher recurring fees from the REIT.

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