United Hampshire US REIT (SGX:ODBU
) has acquired a new freehold property, Wallingford Fair Shopping Center, for US$21.4 million, which is about 8.2% below independent valuation of US$23.3 million.
The property is a grocery-anchored freehold retail property located in Wallingford, Connecticut.
The property's anchor tenant is ShopRite, a leading supermarket with stores in six U.S. states and has been operating at the property since 2010.
According to Gerard Yuen, CEO of the manager, Wallingford Fair Shopping Center has a net lettable area of approximately 115,223 sq ft, with a committed occupancy rate of 100% and a long WALE of 12.8 years.
“The acquisition was partially funded with the proceeds from our divestment of Albany Supermarket completed in 1Q 2025 and will further strengthen our portfolio diversification and income resilience,” he adds.
Following the acquisition, Yuen expects the REIT to see a 2% uplift to its DPU to 4.11 US cents on a pro forma FY2024 basis.
See also: REITs vs private funds? The more options, the better, says Cushman & Wakefield head
Post acquisition, the REIT’s enlarged portfolio will comprise 23 properties across nine states along the U.S. Eastern seaboard.
As at 9.40am, units in United Hampshire US REIT are trading 0.5 US cents lower, or 0.94% lower 52.5 US cents.
