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piscesmonkey
Supreme |
28-Nov-2025 09:22
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Chart show that its breakout downtend. Now going chiong up liao rate cuts on 11dec | ||||
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piscesmonkey
Supreme |
27-Nov-2025 15:26
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J.P. Morgan said on Wednesday it now expects the U.S. Federal Reserve to deliver a 25-basis-point rate cut in December, reversing its earlier call that policymakers would stay on hold until January. | ||||
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piscesmonkey
Supreme |
27-Nov-2025 15:11
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1 mouth again?
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piscesmonkey
Supreme |
27-Nov-2025 11:27
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Who buying at 72 to 74 3 pips straight up | ||||
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Newbie85
Veteran |
20-Nov-2025 13:27
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Let' s go Manulife! | ||||
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Delvyss
Elite |
20-Nov-2025 11:11
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Joelton
Supreme |
20-Nov-2025 09:22
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Manulife US Reit bags two-year lease renewal with US Treasury
The government department makes up 5.3% of the Reit&rsquo s total gross rental income
[SINGAPORE] Manulife US Real Estate Investment Trust : BTOU +1.39% (MUST) secured a 24-month lease renewal with its fifth-largest tenant, the US Treasury, for some 120,000 sq ft of office space in Washington, DC.
The government department has been a major anchor tenant in the building since 2011 and, as at Sep 30, contributes 5.3 per cent of Must&rsquo s total gross rental income, said the Reit in a release on Wednesday (Nov 19).
The property at 1750 Pennsylvania Avenue is a 13-storey Class A office building situated a block from the White House and within proximity to the International Monetary Fund, the World Bank and the Federal Reserve.
The new lease &ndash which began in August &ndash is for a 24-month term with 12 months firm, after which the tenant has a termination option, said Must. The renewal extends the property&rsquo s weighted average lease expiry from 1.4 years to 2.3 years, and no tenant improvement allowances were granted for the extension.
The US Treasury lease has been on a month-to-month basis since August, which is when the original lease expired, said the Reit, adding that the execution of the lease renewal was delayed due to the US federal government shutdown.
The US Treasury will retain its existing rent, which is in line with other US Government Services Administration leases recently signed in the Washington, DC submarket, noted the Reit.
The government department earlier informed MUST of its decision to relocate, but added that it was considering a short-term extension of its existing lease at Penn, said John Casasante, chief executive and chief investment officer of the Reit&rsquo s manager.
&ldquo The finalisation of this two-year lease renewal provides us with greater cashflow certainty amid ongoing challenges in the Washington, DC office market,&rdquo he noted.
That being said, Casasante expects the federal government&rsquo s requirement for employees to return to office to revitalise the city&rsquo s economy and boost office demand over time.
&ldquo Our focus remains on sourcing and executing strategic and accretive leases where we hold a competitive advantage and can create a scenario that benefits both the landlord and tenant, rather than competing purely on rent and tenant concessions,&rdquo he continued.
The Reit is working on several of these leasing opportunities and is optimistic of finalising them before the year ends, concluded Casasante.
MUST is the first pure-play US office Reit listed in Asia. As at Sep 30, the Singapore-listed Reit&rsquo s portfolio comprises seven freehold office properties in Arizona, California, Georgia, New Jersey, Virginia and Washington DC, with an aggregate net lettable area of 3.5 million sq ft.
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Delvyss
Elite |
18-Nov-2025 09:43
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' All the signs are positive' : Manulife US Reit manager sees improved outlook on US office recoveryhttps://www.theedgesingapore.com/capital/investing-ideas/wealth-fees-bright-spot-dbs-and-ocbc-uobs-pre-emptive-provisions-should-be |
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mr_wealth
Member |
13-Nov-2025 10:35
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End of 2025 is coming. When will distributions of dividends return? | ||||
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Joelton
Supreme |
06-Nov-2025 09:24
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&lsquo All the signs are positive&rsquo : Manulife US Reit manager sees improved outlook on US office recovery
Some 81,000 sq ft of leases have been executed in the quarter, making up 2.3% of the portfolio&rsquo s net lettable area
[SINGAPORE] The manager of Manulife US Real Estate Investment Trust (Manulife US Reit) believes things are starting to look up for the US office-focused Singapore-listed Reit, as market conditions improve.
&ldquo There is improvement, we&rsquo re seeing it. We&rsquo re seeing institutional buyers slowly come back into the market again&hellip We&rsquo re seeing lenders start lending again on multi-tenant offices,&rdquo said John Casasante, chief executive officer and chief investment officer of the Reit&rsquo s manager, at a media briefing on Wednesday (Nov 5).
He added: &ldquo All the signs are positive. They&rsquo re all moving in the right direction at the moment. Unfortunately, it&rsquo s just moving slowly &ndash that has been the biggest issue for us.&rdquo
For the third quarter ended September, some 81,000 square feet (sq ft) of leases were executed, making up 2.3 per cent of the portfolio&rsquo s net lettable area, said the manager. Year to date, about 206,000 sq ft of leases were signed.
The Reit&rsquo s manager said the weighted average lease expiry of leases executed in the third quarter stood at 4.7 years, although rental reversion in the period was negative at minus 11.3 per cent.
Casasante attributed the negative rental reversion to a deal where it renewed a 39-month lease by a government contractor at 30,000 sq ft with no tenant improvement allowance.
&ldquo If we had not done this deal, as an example, we would have had neutral reversion for the quarter,&rdquo he added.
However, Manulife US Reit&rsquo s portfolio occupancy slipped further to 68.2 per cent in Q3, from 68.4 per cent in the preceding quarter.
The way Casasante sees it, the upcoming 2028 Olympics to be held in Los Angeles could provide a boost to the Reit&rsquo s portfolio. &ldquo There are some leases that are coming through the market that are specifically tied to the Olympics.&rdquo
The Reit&rsquo s building, Figueroa, is adjacent to the Los Angeles Convention Center in downtown LA.
As at end-September, the Reit&rsquo s gearing stood at 59.6 per cent and its weighted average debt maturity was 2.6 years.
Some 74.6 per cent of loans remained hedged or fixed as at end-September. The manager said it targets an &ldquo optimal hedge ratio&rdquo of 50 to 80 per cent as it repays debt from proceeds from expected sale of assets.
Mushtaque Ali, chief financial officer of the Reit&rsquo s manager, said that at this point in time, it is targeting to bring the ratio to the lower end of the range to maximise the benefits of the reduction in interest rates to the Reit&rsquo s advantage.
The manager said about US$160 million of 2026 debts have been repaid from Plaza and Peachtree sales proceeds and no further debts are due in 2025. About 17 per cent of 2026 debt remains and is due in July 2026.
The entire portfolio has a weighted average lease expiry of 4.5 years based on net lettable area, with 9.4 per cent of leases expiring in the remainder of 2025.
Annual rent escalation is at an average of 2.3 per cent, with nearly three-quarters of the portfolio having annual rent escalations at that rate.
When asked about the visibility on when distributions will be paid again, Ali said that once the Reit resolves dealing with the disposition mandate under the Master Restructuring Agreement, the intention is to move towards the growth phase for the Reit, allowing it to resume distributions.
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Joelton
Supreme |
05-Nov-2025 10:00
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Manulife US Reit portfolio occupancy falls to 68.2% in Q3
Some 81,000 sq ft of leases have been executed in Q3, making up 2.3% of the portfolio&rsquo s net lettable area
[SINGAPORE] The manager of Manulife US Reit on Wednesday (Nov 5) reported portfolio occupancy of 68.2 per cent for its third quarter ended September, down from 68.4 per cent in the previous quarter.
Some 81,000 square feet (sq ft) of leases were executed in Q3, making up 2.3 per cent of the portfolio&rsquo s net lettable area, said the manager. Year to date, about 206,000 sq ft of leases were signed.
The Reit&rsquo s manager said the weighted average lease expiry stood at 4.5 years, although rental reversion in the period was negative at minus 11.3 per cent.
As at end-September, the Reit&rsquo s gearing stood at 59.6 per cent and its weighted average debt maturity was 2.6 years.
Some 74.6 per cent of loans remained hedged or fixed as at end-September. The manager said it targets an &ldquo optimal hedge ratio&rdquo of 50 to 80 per cent as it repays debt from proceeds from expected sale of assets.
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Delvyss
Elite |
03-Nov-2025 10:52
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Weighing the risk/reward https://simplywall.st/stocks/sg/real-estate/sgx-btou/manulife-us-real-estate-investment-trust-shares
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seanpent
Supreme |
03-Nov-2025 10:18
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With good volume is positive. Likely a follow-thru run up in the coming sessions. | ||||
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TraderBen
Supreme |
03-Nov-2025 09:16
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yes good buy.. this one year end target 10 cents min DYODD
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biper66
Senior |
03-Nov-2025 09:14
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wats EQDP?
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piscesmonkey
Supreme |
03-Nov-2025 09:10
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MUST and prime like EQDP buying | ||||
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piscesmonkey
Supreme |
30-Oct-2025 15:14
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Bought more at 72. Prime recover back to 205. MUST going back to 77? | ||||
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piscesmonkey
Supreme |
28-Oct-2025 17:11
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Prime close at 210. MUST tmr chiong up? | ||||
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piscesmonkey
Supreme |
28-Oct-2025 12:50
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Once break 79 today closing will be 82 | ||||
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Delvyss
Elite |
28-Oct-2025 12:17
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I am seeing what you saw. Good to give it a chance to attempt a break beyond 89.
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