This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

John Hancock Acquires Three Office Properties In Key U.S. Markets

BOSTON, Dec. 19, 2013 /PRNewswire/ -- John Hancock, the U.S. division of Manulife Financial Corporation (TSX/NYSE/PSE: MFC), one of the largest life insurance companies in the world, announced today that it has acquired three office properties totaling US$618 million in New York, Chicago and Boston.

"We are constantly assessing opportunities to grow our real estate investment portfolio. We've done just that yet again with these three excellent properties that align nicely with our strategy of investing in core and diverse markets," said Kevin Adolphe, President and CEO of Manulife Real Estate and Manulife Asset Management Private Markets. "We remain optimistic about these markets and will continue to evaluate core office, industrial and multi-family residential property investments throughout Canada, the United States and Asia."

John Hancock's real estate portfolio is diversified by both geography and asset type, consisting primarily of prime office and industrial properties, as well as select retail and multi-family residential properties, in key metropolitan centers throughout Canada, Asia and the United States. With these new acquisitions, the Company's global real estate portfolio now represents a market value of US$10.4 billion ( C$10.7 billion) with properties totaling more than 39 million SF. Other key markets in the United States include Washington DC, Atlanta, Los Angeles and San Francisco.

"These properties represent the type of high quality assets we acquire in key markets as a priority for our strategic plan. The strong tenant rosters and superb locations make these excellent additions to our investment portfolio," added Ted Willcocks, Global Head of Asset Management for Manulife Real Estate.

100 William Street, New York City

100 William Street, a 422,000 SF 21-story class A office building in New York's Financial District, was acquired from Mitsui Fudosan America for US$166.5 million ( C$176.5 million) in a deal that closed December 10, 2013.

The property was built in 1972 and substantially renovated in 2012.  It was designed by renowned architect Emery Roth and is located in the heart of the Financial District in Lower Manhattan. The building is 95 percent leased to a diverse array of tenants.

The Company's New York City Metropolitan area real estate portfolio is approximately US$688 million ( C$729 million) and totals more than 1.9 million SF.

CBRE acted as broker on the 100 William Street transaction.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs