The total redemption amount is approximately US$0.1 million and was funded from internal resources and proceeds from the divestment of the property.
Hancock S-REIT Portland, an indirect subsidiary of Manulife US REIT (MUST) (SGX:BTOU
) , has redeemed all of its 115 outstanding preferred units held by the preferred unitholders. The unitholders are all unrelated to MUST’s sponsor, The Manufacturers Life Insurance Company, and MUST itself.
Hancock S-REIT Portland used to hold MUST’s Tanasbourne property located in Hillsboro, Oregon, in the US. The property was divested to John Hancock Life Insurance Company for a consideration of US$33.5 million ($44.6 million) in April
