- There is a pick-up in leasing activities with Manulife US REIT securing two new tenants in 4Q23: an insurance firm at Capitol and a public administration agency at Figueroa. In 1Q24, existing tenant Hyundai Capital expanded at Michelson, while The Children’s Place has returned to Plaza.
- - Read this at SGinvestors.io -
Manulife US REIT's 2H23 Results
- Manulife US REIT (SGX:BTOU) reported distributable income of US$36.4m for 2H23 (-13.3% y-o-y), which is above our expectations.
Termination fees boosted revenue and NPI.
- - Read this at SGinvestors.io -
- higher property expenses, and
- divestment of Tanasbourne in Hillsboro during Apr 23 and Park Place in Chandler during Dec 23.
- Interest expense increased 29.1% y-o-y.
Pick-up and positive momentum in leasing activities.
- Read more at SGinvestors.io.
