Manulife US REIT's management team at the results briefing on 11 February 2019. (Photo: REITsWeek)

Manulife US REIT’s portfolio weighted average lease expiry (WALE) figures for 2019 will be bolstered substantially by a long-term rental commitment that was recently secured with Hyundai Capital America.

The matter was revealed at Manulife US REIT’s results briefing on 11 February, during which it reported a 7.7% rise in distribution per unit (DPU) for 4Q 2018.

For the quarter, the office REIT also recorded a 38.4% year-on-year growth in net property income (NPI) to USD25.5 million, while distributable income grew 33.8% to USD19.6 million.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.