“Given its larger distributable income base, Upland Square is set to substantially enhance UHREIT’s income visibility and resilience,” says Robert Schmitt, CEO of the REIT’s manager.
United Hampshire US REIT is acquiring a new asset for US$85.7 million, 0.3% off an independent valuation.
The asset, the Upland Square Shopping Centre, will help increase its pro forma distribution per unit by 2.13% from 6.23 US cents from 6.1 US cents, and to also grow its portfolio value by 6% to US$730.1 million.
