Manulife US REIT has received a query from Singapore Exchange Regulation (SGX RegCo) with regards to the “unusual price movements” seen on 11 April

At the end of the trading day, the REIT’s unit price has fallen by about 12.25% when compared to the previous close.

Manulife US REIT is a US-focused office REIT with a portfolio of mostly Grade A office and Trophy class assets across the country.

The REIT’s unit price has seen a relatively precipitous decline especially after revelations that its gearing level has risen close to the regulatory limit of 50%.

Related: Milestones of a meltdown: Manulife US REIT at crossroads amid lofty leverage