Manulife US REIT divests property in Oregon for US$33.5m

The REIT sold the property to John Hancock Life Insurance Company.

SGX-listed Manulife US REIT, through its subsidiary Hancock S-REIT Portland LLC, will divest its property in Hillsboro, Oregon.

The property known as “Tanasbourne” was sold to John Hancock Life Insurance Company for US$33.5m.

Tanasbourne is a 132,851-square-foot office campus comprising three flex-office buildings constructed between 1986 to 1995 and refurbished in 2015, 2017 and 2020.

As of 31 December 2022, Tanasbourne is 100.0% occupied with a weighted average leased to expiry of 3.8 years.

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