Manulife US REIT Singapore IPO

• Type = Commercial (Office)
• Sponsor = Manulife (9.5% stake)
• Market Capitalization = $490 Million
• Portfolio = 3 Grade A Commercial Property @ Washington DC (19% NAV), Los Angeles (38% NAV ) and Irvine (43% NAV)
• Price / NAV = between 1.1 to 1.2
• Distribution Yield = 5.5% to 5.9%
• WALE = 5.1 Years
• Occupancy Rate = 97.7%
• Top 10 Tenants = 58% of income
• Gearing Ratio = 37.6%
• WADB = 10.3 Years
• Cost of Capital = 3.75%
• Plan Listing: July 15, 2015

Is it a good REIT to subscribe? Is the yield attractive with the IPO share price? How to analyse the fundamental of this Manulife US REIT to see whether it is a good long term investment? What are the risks? Check out the coming Singapore REIT Public Workshop here.