Manulife US REIT (SGX:BTOU), through its indirect wholly-owned subsidiary, Hanckock S-REIT SECA, is selling its property named Plaza located in New Jersey, US to 500 Plaza Ground Lessor for $51.8 million, according to a Thursday filing with the Singapore Exchange.
The divestment is part of the REIT's strategy to repay 2026 debts of around $204 million by June 30.
The property is an 11-story Class A office building of 468,049 square feet.
Shares of the REIT were down over 3% in recent trading.
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