- United Hampshire US REIT (SGX:ODBU) is a defensive shelter focusing on essential services with minimal leasing risks. Strip centres attracted institutional investors due to the availability of geolocation data, rise in foot traffic and improved lending conditions.
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Decent 1Q25 results with positive rental reversion at mid-single-digit and portfolio occupancy at 97.2%.
- United Hampshire US REIT reported a distributable income of US$6.3m for 1Q25 (-1.6% y-o-y), which is in line with our expectations.
Organic growth from new leases and rental escalation.
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- On a like-for-like same-store basis, revenue and NPI grew 3.2% and 1.5% y-o-y respectively due to contributions from DICK’S Sporting Goods at Upland Square (commencement: Jul 24), Trader Joe’s Supermarket at Lynncroft Center (commencement: Nov 24) and rental escalation from existing leases.
Stability from longer WALE.
- Read more at SGinvestors.io.
