- United Hampshire US REIT’s strip centres cater to necessity spending and have a long WALE of 7.2 years. Occupancy has improved by 0.9ppt q-o-q to a high of 97.9% in 2Q23.
- Retail real estate in the US demonstrated resiliency with 11 consecutive quarters of positive net absorption. According to CBRE, strip centres are leading the recovery with rent growth of 2.7% y-o-y in 2Q23.
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United Hampshire REIT's 1H23 Results
- United Hampshire US REIT (SGX:ODBU) reported DPU of US$0.0265 for 1H23 (-8.9% y-o-y), which is above our expectation. See United Hampshire US REIT's dividend dates. It retained distributable income of US$1.5m as capital reserve for asset enhancement.
Growing organically and via acquisitions.
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Portfolio occupancy reached a high of 97.9%.
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