South Korean firm Mirae Asset Global Investments has emerged as a potential stakeholder in US office landlord, Manulife US REIT (MUST).

The Singapore Exchange (SGX)-listed REIT confirmed on 15 March that it is in talks with the firm as part of the REIT’s ongoing strategic review.

As REITsWeek has been reporting since November 2022, MUST is presently in the process of reviewing its investment mandate and partnerships as part of a wider introspection of its business.

This review has been taken amid difficult operating conditions in the US office market, which has led to a fall in the REIT’s portfolio valuation.

Related: Manulife US REIT ponders mandate as an office-only REIT amid economic headwinds