MUST sold its Capitol and Plaza assets in October 2024 and February this year, respectively. The manager expects to close the sale of Peachtree, its latest divestiture, by June 30, which is expected to net proceeds of approximately US$118.8 million.
Manulife US REIT (MUST) looks set to complete three divestments in as many quarters, and a fourth sale, which must be done by year-end, should fill a US$60 million ($77.03 million) gap in its US$328.7 million net proceeds target.
The manager of the US office REIT announced on May 23 that its lenders had granted a six-month extension to its asset disposal deadline, allowing MUST until Dec 31 to sell another of its seven remaining assets.
