United Hampshire US Reit Q3 distributable income up 15.5% at US$7 million
This is due to commencement of new leases, rental escalations from existing leases and lower interest costs
[SINGAPORE] The manager of United Hampshire US Reit posted a distributable income of US$7 million for the third quarter ended Sep 30, up 15.5 per cent from US$6 million in the year-ago period.
Its net property income for the three months rose 5.7 per cent year on year to US$12.7 million from US$12 million.
For the quarter, revenue edged up 1.4 per cent to US$18.1 million from US$17.9 million.
Gerard Yuen, chief executive officer of the manager, said that Q3’s improvements were driven by the commencement of new leases, built-in rental escalations from existing leases and lower interest costs.
Noting that the quarter recorded sustained leasing momentum, he added that the contribution from Dover Marketplace in Pennsylvania – acquired in August 2025 – also contributed to the performance as the property is “strategically located” and anchored by a leading grocery tenant.
Lower finance costs due to reduced interest rates and lower borrowings following partial loan repayments made using proceeds received from the Divestments, also contributed, the manager added.
Units of United Hampshire US Reit ended Thursday at US$0.50, up 1 per cent or US$0.005.
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