Besides tenants downsizing, the lower value was also driven by higher discount rates and terminal capitalisation rates for certain properties.
Manulife US REIT (MUST) warns that it will report a loss for FY2024 as it books fair value losses on its depreciating portfolio.
Citing independent valuations, the REIT says its portfolio value has been deemed to drop 9.3% or US$116.6 million to US$1.14 billion, from US$1.2 billion as at Dec 31, 2023.
