Manulife US REIT reports lower occupancy rate in Q1

The REIT recently sold a property for $173.55m.

Manulife US REIT reported a 69.9% occupancy rate in Q1 2025, a dip from 73.9% in the previous quarter.

The group attributed the dip in occupancy to to lease expiries at Diablo, located in Tempe, Arizona.

The dip was offset by recently signed leases at Phipps at Centerpointe.

Rent reversion further dropped to -8.9% from -5.1% in Q4 2024.

The group also reported that it sold Peachtree, a 28-storey Class A office building in Atlanta, Georgia, for $173.55m (US$133.8m) to repay 58% of its 2026 debts.

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Manulife US REIT

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