Manulife US REIT sells Atlanta property for $173.55m to pay off debts

This is approximately 58% of its 2026 debts.

Manulife US Real Estate Investment Trust 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.

In March 2025, Manulife US REIT made an early repayment of $51.88m (US$40m), approximately 20% of its 2026 debts, in March 2025 with divestment proceeds from the sale of its property in New Jersey, USA.

With the funds, the group has paid 78% of its total debts due in 2026.

“The sale of Peachtree will enable us to reduce a substantial portion of our 2026 debts and achieve 82% of the net sales proceeds target under the Master Restructuring Agreement (MRA), putting MUST in a stronger position to negotiate a path for recovery and growth with its lenders,” John Casasante, Chief Executive Officer and Chief Investment Officer of the manager of Manulife US REIT said.

Under an MRA signed with its lenders, Manulife US REIT is required to achieve minimum cumulative net sales proceeds of $426.36m (US$328.7m) by 30 June 2025.

The manager said they are focus on improving the operational performance of its portfolio, whilst strategically repositioning the portfolio through investment opportunities in other real estate sectors that offer accretive cash yield and are less capital intensive.

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