TSX/NYSE/PSE: MFC SEHK:945
BOSTON, Nov. 10, 2015 /CNW/ - John Hancock Real Estate today announced
that it has acquired 5000 Birch, a 306,000 SF, two building, Class A
office project located in Newport Beach, California, for US$104.5
million. John Hancock is the U.S. division of Manulife Financial
Corporation, one of the largest life insurance companies in the world.
5000 Birch features a highly coveted Newport Beach address and is
located at the gateway between Newport Beach and The Irvine Business
Complex. 5000 Birch builds on John Hancock Real Estate's commitment in
Orange County where we already own The Michelson and Oracle Tower.
"We are excited to grow our global portfolio through continued
investment in Orange County -- one of the fastest growing office
markets in the U.S.," said Kevin Adolphe, President & Chief Executive
Officer of Manulife Real Estate and President & Chief Executive Officer
of Manulife Asset Management Private Markets. "Our acquisition of 5000
Birch further strengthens our long-standing investment in California
where we now actively manage over 9 million SF."
Operating as John Hancock Real Estate in the U.S. and Manulife Real
Estate in all other parts of the world, our real estate portfolio is
diversified by both geography and asset type, consisting 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. The global real estate
portfolio represents assets under management of US$14.0 billion with
properties totaling more than 58 million square feet as of June 30,
2015. Other key markets in the United States include Los Angeles, San
Francisco, Chicago, Boston, New York, Washington DC, and Atlanta.
About Manulife Real Estate and John Hancock Real Estate
Manulife Real Estate is the global real estate arm of Manulife,
operating as John Hancock Real Estate in the U.S. and Manulife Real
Estate in all other parts of the world. Manulife Real Estate has fully
integrated in-house capabilities and 70 years of experience as an
active investor, owner, developer and asset manager of commercial real
estate. Diversified by both geography and asset type, the portfolio
consists 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 in the United States.
In addition to equity real estate, Manulife Real Estate manages the
space requirements and own use facilities for Manulife and John Hancock
operations around the world. Manulife Real Estate also extends its real
estate asset management expertise to institutional investors. As at
June 30, 2015, the Manulife Real Estate portfolio totaled more than 58
million square feet with AUM market value of C$17.5 billion (US$14.0
billion). Additional information about Manulife Real Estate can be
found at www.manuliferealestate.com
About Manulife
Manulife Financial Corporation is a leading international financial
services group providing forward-thinking solutions to help people with
their big financial decisions. We operate as John Hancock in the
United States, and Manulife elsewhere. We provide financial advice,
insurance and wealth and asset management solutions for individuals,
groups and institutions. At the end of 2014, we had 28,000 employees,
58,000 agents, and thousands of distribution partners, serving 20
million customers. At the end of June 2015, we had $883 billion
(US$708 billion) in assets under management and administration, and in
the previous 12 months we made more than $22 billion in benefits,
interest and other payments to our customers. Our principal operations
are in Asia, Canada and the United States where we have served
customers for more than 100 years. With our global headquarters in
Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the
Philippine stock exchanges and under '945' in Hong Kong. Follow
Manulife on Twitter @ManulifeNews or visit www.manulife.com or www.johnhancock.com.
SOURCE Manulife Financial Corporation
Image with caption: "John Hancock Acquires 5000 Birch in Newport Beach, California (CNW Group/Manulife Financial Corporation)". Image available at: http://photos.newswire.ca/images/download/20151110_C9241_PHOTO_EN_44442.jpg
