John Hancock, the U.S. arm of Canadian life insurer Manulife Financial Corp, said on Thursday it has acquired three office properties worth $618 million in New York, Chicago and Boston. With these acquisitions, Manulife said its global real estate portfolio is now worth $10.4 billion, with office and industrial properties, coupled with retail and multifamily residential properties in Canada, Asia and the United States.The buildings acquired include a 21-story building in New York's financial district, bought from Mitsui Fudosan for $166.5 million; and a 40-story building in Chicago's central business district that it acquired from a joint venture comprised of Equity Group Investments, Pearlmark Real Estate Partners and TEIR REIT for $214.5 million.The third asset, Wellesley Office Park, located in Greater Metropolitan Boston, was bought from an affiliate of Blackstone Group for $237 million.Kevin Adolphe, who heads Manulife's real estate business, said the insurer continues to assess opportunities to expand its real estate portfolio.
Shares of BX fell by 0.63% or $-0.19/share to $30.13. In the past year, the shares have traded as low as $15.00 and as high as $30.47. On average, 4778500 shares of BX exchange hands on a given day and today's volume is recorded at 5542651.
Manulife Financial Corporation (MFC) is a Canada-based financial services group with principal operations in Asia, Canada and the United States. Shares of MFC traded higher by 2.53% or $0.48/share to $19.43. In the past year, the shares have traded as low as $13.33 and as high as $19.54. On average, 1728510 shares of MFC exchange hands on a given day and today's volume is recorded at 2196083.
Manulife Financial Corporation (MFC) is a Canada-based financial services group with principal operations in Asia, Canada and the United States. Shares of MFC traded higher by 2.57% or $0.52/share to $20.75. In the past year, the shares have traded as low as $13.27 and as high as $20.72. On average, 3128480 shares of MFC.TO exchange hands on a given day and today's volume is recorded at 3658134.
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