Tripp Gantt, CEO of Manulife US REIT. (Photo: Manulife US REIT)

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.

Related: Manulife US REIT comes within a whisker of debt limit with valuation loss

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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.