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Manulife US REIT gets additional time to sell more US office buildings

Singapore-based investor comes up about $60 million short of meeting required debt level
Even with the scheduled sale of 1100 Peachtree in Atlanta, Manulife US REIT was still short of the capital needed to pay down debt. (CoStar)
Even with the scheduled sale of 1100 Peachtree in Atlanta, Manulife US REIT was still short of the capital needed to pay down debt. (CoStar)

Manulife US Real Estate Investment Trust has secured lenders' approval to extend its asset disposal deadline by six months until the end of this year, given the soft but improving state of U.S. office sales.

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