Washington DC

Tenant diversification, unencumbered properties help derisk Manulife US REIT

(Aug 19): With five US real estate investment trusts listed on the Singapore Exchange, Jag -Obhan, chief financial officer of Manulife US REIT’s manager, clearly wants MUST to differentiate itself. How has the REIT done this? “By derisking,” Obhan says. “Derisking the balance sheet, portfolio, tax issues and tenant profile.” 

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Manulife US REIT acquires Virginia asset for US$122 mil; proposes US$94 mil private placement to fund deal

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.

Why RHB is nothing but positive on Manulife US REIT's latest acquisitions

SINGAPORE (Apr 16): RHB is maintaining its “buy” on Manulife US REIT but raising its target to US$1 from 98 US cents to factor in 1-2% higher FY18-20 DPU forecasts on contributions from its latest acquisitions.

The manager of Manulife US REIT last week announced the acquisition of two office properties from its sponsor, namely 1750 Pennsylvania Avenue (Penn) and Phipps Tower (Phipps), for a total of US$387 million ($507.8 million).

GIC announces joint acquisitions of $1.05 bil Washington DC office portfolio

Terrell Place

SINGAPORE (Feb 23): Singapore’s sovereign wealth fund GIC says it has formed joint ventures (JVs) with a group of investors to acquire over 2.1 million sq ft of office assets in the Washington DC metro, with a total of more than $1.05 billion in aggregate asset value.

Among the participating investors are affiliates of Beacon Capital Partners, a real-estate developer, owner and manager of office properties in major US markets.

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