Basic Profile & Key Statistics
- Main Sector(s): Retail & Logistics (Self-Storage)
- Country(s) with Assets: United States
- of Properties (exclude development/associate/fund): 24
Performance Highlight
Gross revenue, NPI and distributable income increased yoy mainly due to contributions from Colonial Square and Penrose Plaza which were acquired in November 2021, through private placement.
Tenant Sales
Tenant sales for anchor tenants in 2021 have improved as compared to 2020.
Acquisition
On 9 Jun, UHREIT announced for the proposed acquisition of Upland Square Shopping Center in Pottstown, Pennsylvania. The acquisition would be funded with a combination of proceeds from the divestment of Elizabeth and Perth Amboy self-storage properties and debt. This acquisition (coupled with divestment) is expected to be DPU accretive. The gearing is expected to increase to 42.7% after the divestment and acquisition.
Divestment
The sales consideration is revised downward from $49 mil to $45.5 mil on 19 April. The divestment is expected to be completed by 2Q 2022...
