Hancock S-REIT Portland used to hold MUST’s Tanasbourne property located in Hillsboro, Oregon, in the US. The property was <a href="https://www.theedgesingapore.com/capital/deals-joint-ventures-alliances/manulife-us-reit-continues-talks-bidder-mirae-divests" target="_blank">divested to John Hancock Life Insurance Company</a> for a consideration of US$33.5 million ($44.6 million) in April

The total redemption amount is approximately US$0.1 million and was funded from internal resources and proceeds from the divestment of the property.

The redemption was effective at 12.01am on May 31 (US Eastern time) and it is not expected to have any material impact on the consolidated net tangible assets or earnings per unit of MUST for the financial year ending Dec 31.

Units in MUST closed at 16.9 US cents on May 31.

Manulife US REIT's indirect subsidiary redeems all outstanding preferred units

Data is the new oil but is it as dirty?

'Transition credits' could sweeten deal for early retirement of coal-fired power plants: MAS, McKinsey paper

DPM Lawrence Wong appointed as GIC’s deputy chairman

Will the Rising Sun keep rising?

Fed signals higher-for-longer rates with hikes almost finished

A mild retreat by risk-free rates won’t help equities to rally 

RHB pegs ISOTeam’s TP at 5 cents after rights issuance

China discovers adventure tourism

Safeguarding crypto investments through interoperability

Tech news in less than 5 minutes – October 2023

Double clicking on getting the most out of generative AI with Google Cloud

Tycoons Oei and Goi back mm2 Asia's 1-for-2 rights issue

Three Arrows Capital's Zhu arrested while trying to leave via Changi Airport

Enterprise Singapore developing new local, international sustainability standards and accreditation schemes

For the globetrotter, the World Is Yours Dual Timezone by Jacob & Co is an absolute essential

The Powder Shampoo’s Lynn Tan reflects on a year of eco-conscious success and challenges

A massage and a meal

Should you consider diversifying beyond public markets? 

The Fed has rained on the parade, but investing locally retains its positives

Where are the Chinese when you need them?

Keppel Corp seeks name change to 'Keppel' to reflect new structure

Mapletree’s group of REITs are a ‘great place to be in’, says DBS

Why it’s worth taking a closer look at Keppel REIT’s portfolio

Boustead Singapore is 'big, bold and beautiful', says OCBC

Manulife US REIT's indirect subsidiary redeems all outstanding preferred units

Related News

Highlights

Data is the new oil but is it as dirty?

Related News

Manulife US REIT halts distributions as manager mulls options

‘Absolutely’ possible to save Manulife US REIT, says sponsor but time not on its side

CGS-CIMB stays 'add' on Manulife US REIT but cuts TP by nearly 40% after DPU halt