Manulife US REIT (MUST) has provided glimpses of the steps that will likely be taken in the immediate term, after it recorded a 14.6% fall in the valuation of its assets.
The valuation fall has resulted in the REIT’s gearing crossing the 50% regulatory threshold set by the authorities in Singapore.
The REIT’s portfolio valuation fell 14.6% to USD1,633.55 million, from USD1,913.5 million as at 31 Dec 2022, the REIT announced on 18 July.
MUST has attributed this to higher discount rates and terminal cap rates for certain properties, as well as continued weakening of occupancy across the US.
Dear members, please login to continue reading this article.