Manulife US REIT has reported yet another quarter of falling occupancy for 1Q 2023.

For the latest financial period its portfolio occupancy slipped to 86.1%, down from 88% in 4Q 2022.

At 1Q 2022, Manulife US REIT’s portfolio occupancy was at 91.7%.

Given the perennially falling occupancy numbers, how much lower can it go?

This was the question posed to the REIT’s Chief Investment Officer (CIO), Patrick Browne, during a recent call to discuss its latest business updates, which was released on 11 May.

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

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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.