For the year-to-date ended September period, distributable income of US$24.6 million was 7.5% higher than a year ago.
In its latest 3QFY2022 ended September business update, the manager of United Hampshire US REIT (UHREIT) announced that its distributable income for 3QFY2022 ended September of US$8.3 million ($11.6 million) was 8.1% higher than 3QFY2021. Contributions from UHREIT’s third DPU accretive asset, Upland Square Shopping Center, completed on July 28, has boosted 3QFY2022 distributable income.
Supported by a resilient portfolio that generated higher revenue from both existing properties and the three properties acquired since the 4QFY2021, gross revenue for 3QFY2022 rose 24.7% y-o-y to US$17.0 million from US$13.6 million a year ago, whilst net property income (NPI) was US$11.9 million, 15.2% higher than the US$10.3 million achieved in the previous year.
