Valuation of the initial portfolio is around US$582 million ($785 million) and the initial gearing is likely to be 37.1%, funded mainly by long term debt. The effective tax rate is around 3.5%.
SINGAPORE (Jan 13): A second real estate investment trust has started a cornerstone roadshow this year. United Hampshire US REIT is looking to lodge its prospectus on Feb 12, register on Feb 24, and list on Singapore Exchange at a yield of 6.5% to 7% on March 6.
United Hampshire US REIT is a US grocery-led shopping and storage REIT with 18 retail assets and four self-storage assets with 3 million sq ft of net lettable area. The portfolio is located largely in the states of New Jersey, New York, North Carolina, Florida and Massachusetts.
