The freehold grocery assets comprise Penrose Plaza in Pennsylvania and Colonial Square in Virginia. The deal marks UHREIT’s maiden acquisition post its initial public offer in 2020, as well as its entry into the two locations which are located along the eastern seaboard of the US.
The manager of United Hampshire US REIT (UHREIT) has announced it is acquiring two grocery-anchored freehold assets for a total consideration of approximately US$78.25 mil ($106.18 million).
The manager has also launched a private placement on Oct 5 to raise gross proceeds of no less than US$30 mil, which will be used to partially fund the acquisition.
