Manulife US Real Estate Investment Trust (MUST) has agreed to sell Peachtree, a 28-story class A office building in Atlanta, to an unrelated third-party purchaser for a gross price of $133.8 million.
John Casasante, CEO and CIO of the manager of MUST, said, “From the onset of the recapitalization plan, management has prioritized risk management to enable MUST to meet our upcoming debt obligations. The sale of Peachtree will enable us to reduce a substantial portion of our 2026 debts and achieve 82 percent of the net sales proceeds target under the Master Restructuring Agreement (MRA), putting MUST in a stronger position to negotiate a path for recovery and growth with its lenders.”
“Along with the previous divestments of Capitol in California and Plaza in New Jersey, the repayment from this divestment of Peachtree as well as cash contribution from our balance sheet will bring MUST’s total debt repayment to close to $290 million since November 2024. We remain fo
