Singapore-listed Manulife US REIT (MUST) is acquiring the freehold 29-storey Grade A office property at 400 Capitol Mall, Sacramento, California for USD198.8 million.

The property is features 500,662 square feet of net lettable area, and is 94.9% occupied.

400 Capitol Mall is occupied by 44 tenants, with weighted average lease expiry (WALE) by net lettable area at 5.9 years.

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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.