Manulife US REIT

Overview

Manulife US REIT is a Singapore-listed real estate investment trust established to invest primarily in a portfolio of income-producing office real estate in key markets across the United States, as well as real estate-related assets. The trust's portfolio comprises seven freehold office properties located in Arizona, California, Georgia, New Jersey, Virginia, and Washington D.C., with an aggregate net lettable area of 3.5 million square feet as of June 30, 2025. The trust is managed by Manulife US Real Estate Management Pte. Ltd., a wholly-owned subsidiary of Manulife Financial Corporation. The trust's investment strategy focuses on acquiring and managing high-quality office properties in the United States, aiming to provide unitholders with sustainable distributions while maintaining an appropriate capital structure. The trust has been actively managing its portfolio, including the voluntary winding-up and dissolution of its indirect subsidiary, Hancock S-REIT Portland LLC, which formerly held the Tanasbourne property in Hillsboro, Oregon, as part of a strategic divestment process. This move is not expected to materially affect the trust's consolidated net tangible assets or earnings per unit for the financial year ending December 31, 2024. In December 2025, Manulife US REIT secured overwhelming support from unitholders to transform itself from a pure-play office REIT into a diversified property owner. This strategic pivot aims to create a more resilient portfolio by diversifying beyond its current office-heavy concentration, addressing challenges in the office sector, and capitalizing on opportunities in other property types. The trust plans to dispose of existing properties and acquire assets beyond the U.S. office sector, with unitholders authorizing the disposal of up to three existing properties to raise not more than USD350 million. The trust has also secured concessions from lenders, extending the disposal deadline to June 2026, enhancing its financial flexibility and supporting long-term growth. Manulife US REIT is committed to integrating environmental, social, and governance (ESG) practices into its operations, aiming to provide unitholders with sustainable distributions while maintaining an appropriate capital structure. The trust's portfolio encompasses high-quality office buildings located in key U.S. markets, with a net lettable area of 3.5 million square feet and a long weighted average lease expiry of 4.5 years as of September 30, 2025. The trust's mission is to provide unitholders with sustainable distributions while maintaining an appropriate capital structure, reflecting its commitment to delivering value to its stakeholders. Manulife US REIT is managed by Manulife US Real Estate Management Pte. Ltd., a wholly-owned subsidiary of Manulife Financial Corporation, a Canadian multinational insurance company and financial services provider. The trust's board comprises an experienced and professional team with diverse talents and backgrounds, overseeing its strategic direction and operations. The trust's portfolio and strategic initiatives reflect its commitment to delivering value to unitholders and adapting to evolving market conditions in the real estate sector.

Investment Focus

• Income-producing office real estate in key U.S. markets
• Real estate-related assets