Manulife US REIT tumbled 29.2% to USD0.034 and Prime US REIT fell 12.0% to USD0.117 in trading on 18 September, with data pointing to a handful of large, privately negotiated block trades as the immediate trigger.
As a result, these two of Singapore's most closely watched US office REITs had a brutal end to the week.
Manulife US REIT closed down USD0.014, or 29.17%, at USD0.034, while Prime US REIT shed USD0.016, or 12.03%, to finish at USD0.117.
Neither counter had a corresponding company announcement on 18 September that would obviously justify moves of that size.
Manulife US REIT was once billed as Asia's first pure-play US office REIT, and holds a portfolio of Grade A office towers across the US.
Meanwhile Prime US REIT owns a portfolio of 13 freehold Grade A office properties across the US.
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