Manulife US REIT's CEO, Tripp Gantt. (Manulife US REIT)

There is a change of tack in the American workspace and Manulife US REIT (MUST) has the right properties in its portfolio to capture the emerging trend.

This was the message delivered by Tripp Gantt, CEO of MUST’s manager, at a briefing to discuss the REIT’s results.

MUST reported on 4 August that its revenue for 1H 2022 increased by 10.6% year-on-year to USD100.4 million.

The increase was mainly due to income from its newly acquired assets, Tanasbourne, Park Place and Diablo, which were acquired in December 2021.

However, the REIT’s overall portfolio occupancy as at end-June 2022 has dipped again on a quarter-on-quarter basis to 90% from 91.7% at at end-March 2022.

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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.