Manulife US REIT has jettisoned one of its assets at a loss in a bid to avoid a possible liquidity quandary.
The fully-occupied asset that is being divested is a 132,851-square foot office campus known as Tanasbourne Commerce Centre and it is located in Hillsboro, Oregon.
The REIT is selling it to John Hancock Life Insurance Company for USD33.5 million.
Related: Milestones of a meltdown: Manulife US REIT at crossroads amid lofty leverage
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