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

Dear members, please login to continue reading this article.

Don’t miss out on information beyond mainstream media reports that may impact your investments.
Login or sign-up for a free 25-day trial here. Why subscribe?

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.