However, 9M2024 net property income (NPI) of US$37.4 million was 3.4% lower y-o-y. Management attributes the decrease to the absence of contribution from Big Pine Center and the two freestanding Lowe’s and freestanding Sam’s Club at Hudson Valley, which had been divested in August 2023 and August 2024 respectively.
United Hampshire US REIT (UHREIT) has reported gross revenue of US$54.7 million ($72.24 million) for 9M2024, 0.6% higher y-o-y. Gross revenue for the 3QFY2024 ended Sept 30 was 2.9% lower y-o-y, at US$17.9 million.
The manager of the REIT says the growth was supported by new leases and rental escalations from existing leases, as well as revenue generated from a new Academy Sports + Outdoors store at its St. Lucie West asset in Florida.
