- Manulife US REIT (SGX:BTOU)’s divestment price of Capitol was below expectations, but the sale will lend much-needed liquidity and raises the odds of a successful restructuring.
- US office conditions are slowly but steadily improving both on the leasing and financing fronts, but with Manulife US REIT's share price rebounding ~94% (over the last three months), near-term positives are mostly priced in.
- - Read this at SGinvestors.io -
Divestment aimed at generating liqudity over pricing.
- Capitol, located at 400 Capitol Mall, Sacramento, will be divested to a local property player for US$117m, in an all-cash transaction. The asset was purchased for US$199m (Sep 2019), and was valued at US$158m as at Dec 2023 and US$118m as at 1 Sep 2024. The transaction reflects discounts of 41%, 26% and 1% to the purchase price and the latest two valuations.
- - Read this at SGinvestors.io -
Open to all possible options to build up further liquidity
- Read more at SGinvestors.io.
