Shares & Derivatives
Manulife US REIT Divest Major Property To Bring Itself Back from Existential Crisis.
By Investment Income for Life  •  May 27, 2023
The best news for me this week is the unexpected announcement from Manulife US REIT ("MUST") that it has entered into a letter of intent with its Sponsor (The Manufacturers Life Insurance Company) in relation to the sales of its major property Phipps Tower that is worth US$210Mil (at its last valuation exercise as at 31 December 2022). Amidst the various twist and turn of the MUST saga that is more exciting than the TV drama series, I actually do not mind (i) the fact that MUST had previously mentioned that divestment of properties is almost impossible in light of increasing interest rate environment and the weak commercial office market, or (ii) the fact that the Sponsor did not step in with such strong support at the start of this crisis which led to the current calamity facing MUST- anyway these points are no longer relevant. I am actually more than happy that Manulife Life Insurance Company suddenly...
Read the full article
By Investment Income for Life
I am an Accountant by training and is currently working in a global MNC in the Supply Chain industry. During my free time, I enjoy reading up on topics such as stock investing, insurance planning and property investment. Since 2012, I have started penning down my thoughts on certain financial matters while striving to achieve financial independence.

Your email address will not be published.


Your Email Address will not be published

Read More Articles
More from thefinance