- Manulife US REIT achieved rent reversion of +24.2% in 3Q23 driven by lease renewal by its fourth-largest tenant, Kilpatrick Townsend, at 1100 Peachtree in Midtown Atlanta.
- Management is negotiating with lenders on a waiver for the breach of financial covenant and working with its sponsor on formulating a sponsor support scheme. It targets to announce the loan restructuring by end-23 and hold its EGM in 1Q24.
- - Read this at SGinvestors.io -
Manulife US REIT’s 3Q23 operation updates
- Manulife US REIT (SGX:BTOU)’s 3Q23 operational updates were in line with our expectation.
Strengthening of positive rental reversion.
- - Read this at SGinvestors.io -
- Manulife US REIT achieved positive rent reversions of +24.2% (1Q23: +5.0%, 2Q23: -2.5%) and long WALE of 5.8 years for 193,000sf of leases executed in 3Q23. These leases were predominantly renewals. The renewal of Kilpatrick Townsend lease contributed significantly to the strong positive reversion.
Lease renewed for fourth-largest tenant.
- Read more at SGinvestors.io.
