The sale price takes into account the independent valuation of US$118 million as at September 1.
Manulife US REIT (MUST) is divesting 400 Capitol Mall in Sacramento, California for US$117 million ($150 million).
The REIT intends to utilise the net sales proceeds and existing cash to repay all of its US$130.7 million loans due in 2025 by the end of this year. Post-repayment, there will be no loan maturities until 2026.
