Manulife US REIT has outlined the various options it is considering to reduce debt in the near and medium term, amid its lofty gearing level.
The office-focused REIT, which is now the most highly-geared among Singapore REIT peers, announced its financial results on 9 February.
Alongside the announcement, Manulife US REIT held a briefing with analysts to discuss the US office leasing business, which has been hit by a confluence of factors ranging from low space utilisation to high interest rates.
For its FY2022, the REIT’s net property income rose 3.3% year-on-year to USD113.2 million, while distributable income increased 2.7% over the same period to USD87.9 million.
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