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Atlanta & Southeast  + Georgia  + Office  | 

Manulife US REIT Buys Pair of U.S. Assets for $387M

Singapore-listed Manulife US Real Estate Investment Trust acquired two U.S. properties from John Hancock Life Insurance Company for a combined total of $387 million. The office assets include Phipps Tower in Atlanta’s Buckhead area, and 1750 Pennsylvania in Washington, D.C.

Phipps Tower (pictured above) is a 19-story, 475,091-square-foot high-rise at 3438 Peachtree Rd., and was acquired for $205 million. The property, which serves as the HQ for Carter’s children’s clothing company, was built by Manulife and Crescent Resources (Crescent Communities) in 2010.

1750 Pennsylvania is a 13-story, 277,243-square-foot building, and was acquired for $182 million. Its largest tenant is U.S. Department of the Treasury. The building is located a block away from the White House, near the International Monetary Fund, the World Bank and the Federal Reserve.

John Hancock Life Insurance Co. is a subsidiary of Manufacturers Life Insurance Co. (Manulife) of Canada.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition