TSX/NYSE/PSE: MFC SEHK:945
BOSTON, Aug. 21, 2017 /CNW/ - John Hancock Real
Estate today said it has acquired HarborView at the Navy Yard,
located on Boston Harbor in the historic Charlestown Navy Yard.
The 224-unit, Class-A high-rise multi-family property,
constructed in 2007, is part of the ongoing redevelopment of the
Navy Yard, once one of the oldest shipbuilding yards in
the United States. Situated
overlooking downtown Boston,
HarborView also is a neighbor of the famed USS Constitution, the
oldest commissioned warship in the US Navy.
"HarborView at the Navy Yard is a solid addition to the John
Hancock Real Estate portfolio and brings our residential footprint
in the Boston area to nearly 1
million square feet," said Kevin
Adolphe, President and CEO of John Hancock Real Estate. "We
have a long history in Boston, so
we are particularly pleased to make this acquisition and highlight
our continued commitment to the City."
HarborView's units feature high quality finishes and building
amenities. The property is less than a mile from downtown
Boston and offers easy access to
public transportation and to major regional thoroughfares.
Since 2012, John Hancock Real Estate has grown its Boston area real estate portfolio by nearly
1.5 million square feet through strategic acquisitions and
developments. In addition to HarborView, John Hancock made an equity investment in the
295-unit, 17-story multi-family residential development at Boston
Landing and acquired 535-545 Boylston street, a 13-story office
building located at the intersection of Boylston and Clarendon
Streets in Boston's Back Bay.
Operating as John Hancock Real Estate in the U.S. and Manulife
Real Estate in all other parts of the world, the Company's real
estate portfolio is diversified by both geography and asset type,
consisting 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 the United States. With this
new acquisition, the global real estate portfolio now represents
assets under management of more than US$16
billion with properties totaling more than 61 million SF.
Other key markets in the United
States include Chicago,
Los Angeles, New York, Washington
DC, San Francisco and
Atlanta.
About Manulife Real Estate and John Hancock Real
Estate
Manulife has been investing in and managing direct core and
core-plus real estate for more than 80 years. Operating as John
Hancock Real Estate in the U.S. and Manulife Real Estate elsewhere,
we invest, own, develop and asset manage commercial real estate in
major metropolitan cities across the globe. We leverage our fully
integrated in-house capabilities to serve our customers and
investors as well as manage the space requirements and own use
facilities for Manulife and John
Hancock operations around the world. Manulife Real Estate is
the global real estate arm of Manulife and is a unit of Manulife
Asset Management Private Markets where we extend our asset
management capabilities for the benefit of institutional investors
through our real estate fund platform. As at June 30, 2017, the Manulife Real Estate portfolio
totaled more than 61 million square feet with an AUM market value
of US$16.6 billion.
About Manulife
Manulife Financial Corporation is a leading international financial
services group that helps people achieve their dreams and
aspirations by putting customers' needs first and providing the
right advice and solutions. We operate as John Hancock in the
United States and Manulife elsewhere. We provide
financial advice, insurance, as well as wealth and asset management
solutions for individuals, groups and institutions. At the end of
2016, we had approximately 35,000 employees, 70,000 agents, and
thousands of distribution partners, serving more than 22 million
customers. As of June 30, 2017, we
had over $1 trillion (US$780 billion) in assets under management and
administration, and in the previous 12 months we made $26.7 billion in 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.
SOURCE Manulife Financial Corporation