Shares & Derivatives
What’s the Progress of Manulife US Asset Sales? Brookfield Sales Shows It Might not be Smooth Sailing
By Investmoolah  •  March 29, 2024
I am not vested in Manulife US REIT (MUST), but am following it because it reflects the state of the US Office market which affects my other 2 investments. Recently, MUST insiders have been buying up shares which is good news. However, a recent news of Brookfield asset sale in Figueroa might dampen news, it does not seem like its good news in the progress of Tranche 1 asset sales for Figueroa. BrookField Asset Sale Just 1 block away from MUST's Figueroa property, Brookfield has sold off its 777 South Figueroa street at US$145 million and with 15 offers. The office tower was only 50% occupied and sold at 25% of its 2020's valuation. The good thing is MUST's Figueroa property is 81% occupied, so it is on a better footing. Hence in my view, it is possible for MUST to start selling it at 35% of its 2020 valuation of US$337.6 million. This means about US$118 million....
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By Investmoolah
A total otaku who loves anime, investing and the occasional K-drama. My financial journey begun at the age of 22 and has revolved around the concepts of "Working Hard", "Saving Well" and "Investing Wisely". Through my journey, I have realized that financial literacy is something we have learnt little during our school days but is one of the most useful and relevant skill that we have to be equipped to take on the real world. Concepts such as compounding and "common sense investing" are skills that will place us ahead of the race to retirement ...
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