Manulife US REIT manager issues 1.85 mil units to Manufacturers Life Reinsurance as base fees

SINGAPORE (Nov 30): The manager of Manulife US REIT on Thursday issued a total of 1.85 million units to Manufacturers Life Reinsurance Limited (MLRL) in two payments as base fees.

Manulife US Real Estate Management says 1,260,880 units in Manulife US REIT at US$0.926 each unit were issued to MLRL which was nominated by the manager to receive the units in its place as payment of 100% of the manager’s base fee for the period from July 1 to Sept 30.

As stated in a separate filing, another 591,384 units were issued on the same day at the same price to MLRL as nominated by property manager John Hancock Life Insurance Company to accept the units in its place as payment of 100% of the manager’s base fee for the same period.

---

Related Stories

• Stresses in foreign S-REITs calls into question global REIT listing hub
• Manulife US REIT appoints Citigroup for strategic review
• PhillipCapital keeps buoyant outlook on S-REITs, which are expected to resume DPU growth

---