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Manulife REIT Inks $122M Deal For 2 Va. Office Towers

Law360 (April 29, 2019, 5:37 PM EDT) -- Manulife US Real Estate Investment Trust has reached a deal to buy a pair of office towers in Fairfax, Virginia, from fellow REIT Carr Properties for $122 million, according to an announcement on Monday from Singapore-based Manulife.

The deal is for Centerpointe I and II, which comprise buildings at 4000 and 4050 Legato Road. The towers have 11 stories and a combined 419,981 square feet, and also include a mix of garage and surface-level parking.

"The addition of Centerpointe ... will deepen Manulife US REIT’s exposure in the Northeastern United States," Manulife said in a statement on Monday. "The acquisition will...

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