Manulife US REIT - Annual Report 2025

Front Cover page	1
Contents	3
FY2025 Financial & Portfolio Highlights	8
Chairman's Message	10
In Conversation with Management	11
Key Events	14
Board of Directors	16
Organisation Chart/Trust and Tax Structure	19
Management Team	20
Financial Review	22
Operational Review	25
Portfolio Overview	28
Independent Market Report	37
Investor and Media Relations	52
Enterprise Risk Management	56
Sustainability Overview	62
Corporate Governance	66
Interested Person Transactions	92
Statistics of Unitholdings	93
Financial Statements	95
Report of the Trustee	96
Statement by the Manager	97
Independent Auditor's Report	98
Statements of Financial Position	102
Consolidated Statement of Comprehensive Income	103
Distribution Statement	104
Statements of Changes in Unitholders' Funds	105
Consolidated Statement of Cash Flows	106
Statement of Portfolio	107
Notes to the Financial Statements	108
Corporate Information	151
Back Cover	152

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