Manulife US REIT (MUST) has appointed Marc Feliciano as its chairman of the board of directors.
Feliciano, who is global head of real estate, private markets at Manulife Investment Management, is taking over the role from Stephen Blewitt, the interim chairman. Manulife Investment Management is the sponsor of MUST.
Feliciano, who is also currently a non-executive director of the board, will also assume Blewitt’s role as a member of the nominating and remunerating committee.
Blewitt will retire from the board with these changes.
“Marc has significant experience in the US real estate sector and will assist the management team in developing and implementing strategies to drive sustainable growth for our business and investors,” says Paul Lorentz, president and CEO of Manulife Investment Management. “The board and I would like to thank Stephen Blewitt for his leadership and many contributions over the years. He graciously took this role on a temporary basis after his retirement from Manulife Investment Management and we’re grateful for his service and stewardship.”
“Marc is a highly experienced real estate investment professional who has spent nearly three decades in public and private real estate investment management in the US. With his leadership on the board, I am confident that Manulife US REIT is well positioned to prevail over the market challenges, and to uncover relevant investment opportunities as markets stabilise,” says Blewitt.
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“I am honoured for the opportunity to work with a talented and dedicated group of directors as we seek to preserve and enhance value to our unitholders and other stakeholders,” adds Feliciano.
Feliciano joined Manulife Investment Management in 2022 as global head of real estate, private markets. Prior to joining Manulife, Feliciano was the chief investment officer (CIO) of real estate, Americas and the head of portfolio and asset management for the RREEF Real Estate Americas business. He was also the head of the Americas Debt Investments Group.
Feliciano’s appointment is effective from Oct 26.
Units in MUST closed at 5.1 US cents on Oct 25.
