500 Plaza Drive in Secaucus, New Jersey. (Photo: Manulife US REIT)

Manulife US REIT will be included in the FTSE EPRA NAREIT Global Developed Index with effect from 23 December 2019.

The inclusion would spell greater visibility and liquidity for the REIT, said its manager on 5 December.

“We are delighted to celebrate this momentous milestone with our unitholders achieved only 3.5 years since IPO”, said Jill Smith, CEO of Manulife US REIT’s manager.

“Over this time, we have tripled the REIT’s market cap to USD1.5 billion while establishing a high-quality and diversified institutional investor base from Asia, Europe and the US”.

“The inclusion of Manulife US REIT in the FTSE EPRA Nareit Index signifies higher trading liquidity and visibility to institutional investors and property funds, as well as a potential positive re-rating”, she added.

The FTSE EPRA NAREIT Global Developed Index is established by FTSE Russell in collaboration with the European Public Real Estate Association (EPRA), the European association for listed real estate, and the US-based National Association of Real Estate Investment Trusts (NAREIT).

The index is tracked by a majority of global real estate sector equity funds.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.