SINGAPORE (April 29): Manulife US REIT has agreed to acquire a freehold 11-storey Class ‘A’ office asset at the Washington Metropolitan area in Fairfax, Virginia, for a consideration of US$122 million ($166.1 million) from Carr Properties.

Comprising two towers dubbed Centrepointe I and II, the property is located along 4000 and 4050 Legato Road and features a total net lettable area (NLA) of 419,981 sq ft with 1,456 parking spaces.

To help finance the acquisition – which is estimated to cost US$127 after factoring in an acquisition fee of US$1.2 million on top of other transaction fees and expenses amounting to US$3.8 million – the manager aims to raise at least US$94 million through a private placement at 81.1-83.6 US cents per new unit.

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