United Hampshire Buys Two Properties, Raises US$35M

News about United Hampshire US REIT

United Hampshire US REIT is announcing its first operation with the acquisition of two American retail properties:

  • Penrose Plaza, in Philadelphia (Pennsylvania), which is 94.1 occupied by 27 tenants including ShopRite or Dollar Tree. WALE is 9.2 years.
  • Colonial Square, in Richmond (Virginia), which is 99.1% occupied by 20 tenants including Publix or Wells Fargo. WALE of 6.6 years.

Both are freehold and purchased for US$52.0 and US$26.25 millions, respectively. To fund the operation, the trust has made a private placement of 55,555,000 new shares at US$0.63 each.

The manager expects the transaction to be DPU accretive while improving total WALE.

United Hampshire US REIT
Price0.680 USD
NAV0.720 USD
Yield (4 quarters)8.94%
Gearing36.4%