“Manulife, through its Real Estate group, has a solid reputation managing commercial real estate assets with a portfolio in excess of C$6.4 billion and properties that span major cities across Canada, the United States and Asia,” said Kevin Adolphe, Chief Operating Officer of Manulife’s Investment Division and President and CEO of Manulife Real Estate. “We’re very pleased to be able to put this long established expertise to work in a platform that allows investors to take advantage of what has been a sound asset class for Manulife for the last six decades.”
Structured as a private, two-tier limited partnership, Manulife Canadian Real Estate Funds provides separate real estate investment options from a single source of real estate assets. Investors can participate through direct investments in a portfolio of income producing commercial real estate properties or in a combination of investments in the property portfolio together with investments in publicly traded Canadian real estate securities and Canadian money market securities.
Manulife Asset Management will manage the fixed income and other securities components of the offering with the goal of maintaining adequate liquidity for investors while providing real estate exposure to support long-term objectives of maintaining high yields and attractive returns.
"We are very excited about this collaboration with Manulife Real Estate as it allows us to bring yet another opportunity for real diversification to our clients," said J-F Courville, President and CEO of Manulife Asset Management. “We believe institutional investors will benefit from the strength of Manulife Real Estate’s long-standing expertise in real estate asset management. These funds, combined with our leading timber and farmland investment capabilities, round out our alternative asset offerings.”
Manulife Canadian Real Estate Funds launched with 11 income producing properties valued at approximately C$190 million. The portfolio totals 1.8 million square feet of office and industrial space and is diversified by geography, tenant base and asset class. Manulife Financial has also invested in the funds and Manulife Real Estate will continue to actively manage the properties.
Notice to Investors
This communication is not, and under no circumstances is to be construed as, an invitation to make an investment in either Fund nor does it constitute a public offering to sell units of either Fund. Subscriptions for units of either Fund will only be considered on the terms of the Offering Memorandum (the “
Caution Regarding Forward-looking Statements
Certain statements included in this communication constitute forward looking statements, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend” and similar expressions. These forward looking statements are not historical facts but reflect current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. See “Risk Factors” in the
The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Forward looking statements are made as of the date hereof, or such other date specified in such statements, and neither the Funds, nor any other person assumes any obligation to update or revise such forward looking statements to reflect new information, events or circumstances, except as required by law.
About Manulife Real Estate
Manulife Real Estate, the real estate arm of Manulife Financial Corporation, is actively involved in the ownership, development and management of commercial real estate. The portfolio includes a diversified mix of prime office and industrial properties in key metropolitan centres throughout
About Manulife Asset Management
Manulife Asset Management™ is the global asset management arm of Manulife Financial. Manulife Asset Management and its affiliates provide comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. This investment expertise extends across a broad range of asset classes including equity, fixed income and alternative investments such as real estate, timber, farmland, as well as asset allocation strategies.
Manulife Asset Management has offices with full investment capabilities in the
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients worldwide have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients around the world. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were $475 billion (US$478 billion) as at December 31, 2010. The Company operates as Manulife Financial in