Manulife US Reit unitholders agree to strategic pivot into non-office sectors
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Manulife US Reit unitholders approved a strategic pivot to diversify investments beyond the US office sector into industrial, living, and retail assets in the US and Canada. The "Growth and Value Up" plan passed with 83% approval, allowing the Reit to address financial challenges and avoid liquidation risks. The Reit plans US$350 million in dispositions and US$600 million in acquisitions, focusing on data centers, multifamily housing, and grocery-anchored shopping centers. The strategic shift aims to leverage the sponsor's expertise in managing a diversified portfolio across multiple sectors.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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