<article><a href="https://www.dealstreetasia.com/?s=Manulife%20US REIT">Manulife US REIT</a>, the first pure-play US office REIT listed in Singapore, announced today that it has acquired a two-tower class A office building in Washington DC for $122 million.</article>

<a href="https://www.dealstreetasia.com/?s=Manulife%20US REIT">Manulife US REIT</a>, the first pure-play US office REIT listed in Singapore, announced today that it has acquired a two-tower class A office building in Washington DC for $122 million.
The acquisition of Centerpointe I &amp; II (<a href="https://www.dealstreetasia.com/?s=Centrepointe">Centrepointe</a>) expands Manulife US REIT&#8217;s footprint into one of the highest population and GDP metro areas in the US, according to a company announcement.
Centerpointe, the highest building in Fairfax Center, is being leased to 21 tenants, including several large companies and a government agency with stable credit profiles, such as ASM Research, Edelman Finance Services, Board of Supervisors for Fairfax County, Salient Federal Solutions, and ECS Federal.
Over 50 per cent of the tenants use the building as their headquarters location, Manulife US REIT said.
The acquisition is in line with the REIT’s investment strategy and business model. It will be financed by a combination of loans and issuance of new units in Manulife US REIT via private placement of new units to raise gross proceeds of no less than $94 million.
The acquisition of Centrepointe, which is expected to be completed on May 10, will increase Manulife US REIT&#8217;s aggregate portfolio value by 7 per cent from $1.7 billion to $1.9 billion and net lettable area by 11.2 per cent from 3.7 million square feet to 4.2 million square feet.
&#8220;We believe Centerpointe, which is a 30-minute drive from Amazon HQ2 could potentially benefit from a multisector office, residential, hospitality and retail boom that will follow this further injection of growth,&#8221; said Jill Smith, Chief Executive Officer of Manulife US Real Estate Management Pte. Ltd.
Manulife US REIT is a Singapore REIT established with the investment strategy principally to invest, director or indirectly, in a portfolio of income-producing office real estate in key markets in the US as well as real estate-related assets.
Its portfolio comprises seven prime, freehold, and Trophy or Class A quality office properties located in Los Angeles, Atlanta, New Jersey, and Washington DC.
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Manulife US REIT, the US office REIT listed in Singapore, has acquired a two-tower class A office building in Washington DC for $122 million.

Singapore: Manulife US REIT buys Washington office building for $122m

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Singapore: Manulife US REIT buys Washington office building for $122m

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