Basic Profile & Key Statistics Manulife US REIT (MUST) is a pure office REIT that owns 9 properties in U.S.
Performance Review Gross revenue increased by 1.2% YoY but NPI decreased by 8.2% YoY mainly due to provision for expected credit losses of US$ 3.6 million. Distributable income decreased by 5.5% YoY while DPU decreased by 11.3% mainly due to lower NPI and enlarged unitholders base. FY2020 rental revision is at +0.1%.


Lease Profile

Occupancy is moderate at 93.4%WALE is long at 5.3 yearsHighest lease expiry within 5 years is low at 17.8% which falls in 2022All properties are freehold
Debt Profile Gearing ratio is slightly high at 41%Cost of debt is high at 3.18%Fixed rate debt % is high at 96.1%All debts are secured debtsWADE is short at 2.3 years Highest debt maturity within 5 years is low at 27.4%...