Manulife US REIT (MUST) reported that its portfolio 'remains stable' in its 1QFY2021 ended March operational update, noting a portfolio occupancy of 92% that remains above the US Class A average of 82%, according to JLL.

In the May 11 update, the REIT highlights executed leases for the quarter amounting to 5.8% of the portfolio or roughly 270,000 square feet of net lettable area (NLA), mostly comprising of renewals, while weighted average lease to expiry (WALE) stood at 5.3 years. 62.8% of the REIT’s leases have in-place rental escalations of 2.1% per annum.

Meanwhile, gearing stands at 41.3% as of the 1QFY2021, with a weighted average interest rate of 3.18%.

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