Manulife Moving Ahead with a U.S. Workplace REIT in Singapore

Manulife Financial Corp. is preparing to take 3 of its had U.S. office structures public in a REIT providing on the Singapore Exchange, according to several reports this morning.

Manulife US REIT filed documents today for an initial public offering with Monetary Authority of Singapore looking for to raise about $425 million.

The REIT will certainly include three U.S. workplace structures:
The Michelson at 3161 Michelson Drive in Irvine, California, 19 stories, 536,307 square feet;
515 S. Figueroa St. in L.a, 21 stories, 414,699 SF; and
1850 M St. NW in Washington, DC, 12 stories, 243,635 SF

The proposed REIT would be the biggest such REIT in Singapore in about one year and the very first U.S. commercial property REIT there in One Decade. The offering could end up being reliable later this year.

Initial financiers in the REIT consist of Malaysia’s Fortress Capital Possession Management Sdn Bhd, Japan’s Nikko Possession Management Asia Ltd., and the Oman Mutual fund.

DBS and JP Morgan will certainly be working as joint bookrunners and underwriters.

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