SGX-listed United Hampshire US Real Estate Investment Trust (UHREIT) has reported a 4% increase in its distribution per unit (DPU) for the first half of 2025, reaching 2.09 US cents. This marks the second consecutive period of growth, driven by strategic portfolio management and capital recycling efforts. Despite a 3% year-on-year decrease in gross revenue to $35.7 million and a 5.6% drop in net property income to $24 million, UHREIT’s proactive measures have bolstered its financial performance.
The decline in revenue was primarily due to the divestment of three properties, including the Albany Supermarket. However, excluding these divestments, UHREIT’s gross revenue and net property income saw a year-on-year increase of 2.6% and 2.4%, respectively. The rise was attributed to new leases and rental escalations.
Gerard Yuen, CEO of the Manager, highlighted the resilience of the Grocery & Necessity and Self-Storage sectors, stating, “An improved tenant mix, higher occupancy, and lower financing cost have contributed to a second consecutive increase in DPU.”
UHREIT’s acquisition of Dover Marketplace in Pennsylvania for $16.4 million is expected to further enhance its DPU by 2%. The property, anchored by GIANT supermarket, boasts a committed occupancy rate of 96.1% and a long weighted average lease expiry of 9.7 years.
Looking ahead, UHREIT plans to continue strengthening its portfolio through asset enhancement, development initiatives, and strategic acquisitions, ensuring robust income streams amidst evolving economic conditions.
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