In FY2025, gross revenue fell by 32% y-o-y to US$113.9 million due to higher vacancies mainly at Diablo and Figueroa, lower recoveries income on a reduction in property tax for the current and prior years, higher free rent at Exchange, as well as lower termination income. These were partly offset by higher revenue from higher occupancy in Philipps.
Manulife US REIT (MUST) has reported a portfolio valuation of US$913.8 million ($1.17 billion) as at Dec 31, 2025, 1.6% lower than the valuation of US$928.9 million as at Dec 31, 2024.
According to the REIT, portfolio weighted average discount rates fell by 12 basis points y-o-y on a nominal basis while weighted average terminal capitalisation rates were up by 4 basis points.
