Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Property»United Hampshire US Reit acquires freehold Pennsylvania shopping centre for US$16.4 million
    Property

    United Hampshire US Reit acquires freehold Pennsylvania shopping centre for US$16.4 million

    August 3, 20253 Mins Read


    [SINGAPORE] United Hampshire US Reit has acquired a freehold grocery-anchored shopping centre in Pennsylvania for a purchase consideration of S$16.4 million, the manager said on Saturday (Aug 2).

    The acquisition of Dover Marketplace, a retail neighbourhood shopping centre, is set to expand the Reit’s grocery-anchored portfolio and increase its exposure to the sector, the manager said.

    The Reit’s third acquisition in Pennsylvania extends its footprint in the densely populated and affluent US North-east markets, the manager said.

    Built in 2001, the property is located in Dover Township in York County, Pennsylvania, in the stable suburban community in the York Metropolitan Area.

    With a net lettable area of around 61,044 square feet and a committed occupancy rate of 96.1 per cent, it has a total of nine tenants, comprising its anchor tenant, supermarket operator Giant, and a diverse mix of other tenants, including Fortune 500 company M&T Bank and global fast-food chain Subway.

    Giant, which has a long-term lease at the property, has been its anchor tenant for nearly 25 years.

    BT in your inbox
    Newsletter Img

    Start and end each day with the latest news stories and analyses delivered straight to your inbox.

    Dover Marketplace also benefits from strong regional and local accessibility with its proximity to major roadways, the manager said.

    Its US$16.4 million purchase consideration is around 4.8 per cent below the property’s independent valuation of US$17.2 million as at Jun 30, 2025, said Gerard Yuen, chief executive officer of the manager.

    As part of the Reit’s capital recycling and portfolio optimisation strategy, the acquisition was fully funded by proceeds from the divestment of the Reit’s supermarket property in Albany, New York – completed in Q1 2025.

    It is expected to increase the Reit’s distribution per unit from US$0.0395 to US$0.0403 on a pro forma FY2024 basis.

    Back in October 2024, Yuen noted that the Reit was on the lookout for accretive acquisitions that would diversify its portfolio as part of plans to achieve its target of US$1 billion in assets under management by 2026.

    Listed on the mainboard of the Singapore Exchange since March 2020, United Hampshire US Reit’s investment strategy focuses on investing in a diversified portfolio of stabilised income-producing, grocery-anchored and neccesity-based properties.

    Its portfolio comprises 19 predominantly freehold grocery and necessity properties and two self-storage properties concentrated in the US east coast, with a carrying value of around US$731 million.

    Its malls typically have a major grocer as an anchor tenant, such as Walmart or Best Buy. Such businesses draw customers living in suburban areas and are able to attract footfall to physical stores despite the trend of online shopping, the Reit noted previously.

    Units of United Hampshire US Reit closed on Friday 1.1 per cent or US$0.005 lower at US$0.47.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Property expert reveals the everyday item that could reduce your home’s value by £85,000

    Property

    Criminals funnelling dirty money into UK pushing up London property prices

    Property

    Knights expands property team for Cardiff launch

    Property

    Grand Designs ‘saddest ever property’ finally sells – but owner won’t get a penny

    Property

    Japanese knotweed spreading ‘extensively’ in seaside town water front as locals warn it ‘could devalue property’

    Property

    St Dogmaels among the best UK villages to invest in

    Property
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Insider centralisation of power still a major issue for cryptocurrencies

    Stock Market

    Apple vient de remporter un procès majeur à 300 millions de dollars

    Precious Metal

    Alpha Copper: Graphique de Force Relative

    Editors Picks

    Why Are Many Ethereum (ETH) and Stellar (XLM) Holders Exchanging Their Holdings For This New Cryptocurrency?

    August 14, 2024

    Morocco’s Farming Season ‘Promising’ as Rain Boosts Crops

    April 22, 2025

    CoinDesk Spotlight: Gavin Wood on DeFi, Music and the Future of Blockchain | CoinDesk Spotlight Video

    August 20, 2024

    Electric utilities falling behind on emission reduction targets

    March 17, 2025
    What's Hot

    Alitheia Capital et Goodwell Investments se désengagent de Baobab Nigeria

    March 20, 2025

    Tunisie – 664 MD en faveur d’un avenir agricole plus durable

    June 9, 2025

    Taux : journée dantesque, entre rumeurs +ventes T-Bonds Chine

    April 7, 2025
    Our Picks

    Envestnet had talks with GTCR, fintech firm FNZ before deal with Bain – report

    August 15, 2024

    European Central Bank Sets Up Innovation Hub to Test CBDC as Preparation Phase Nears End

    May 6, 2025

    Au Ghana, le GoldBod concentre pouvoirs et critiques dans le négoce de l’or

    May 4, 2025
    Weekly Top

    Dream11 parent Dream Sports testing Dream Money App to enter fintech sector

    August 24, 2025

    Pakistan at risk of FATF grey list return over digital transactions, warns Pak Finance Minister Aurangzeb – World News

    August 24, 2025

    the nu-metal giants keep the hits rollin’ in

    August 24, 2025
    Editor's Pick

    Pakistan seeks $300 million panda bonds investment from China to stem economic crisis – Firstpost

    July 27, 2024

    Jackson relance le style 80’s metal avec deux nouvelles séries

    May 17, 2025

    Fintech industry launches stablecoin association – The Royal Gazette

    August 12, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.