Logo from United Hampshire

United Hampshire US REIT achieves higher net property income of US$38.7m in 9M23

The REIT’s net property income rose 12.2% YoY.

SGX-listed United Hampshire US REIT recorded higher gross revenue and net property income (NPI) in 9M23.

According to the REIT’s latest financial statement, its gross revenue improved by 11.7% YoY to US$54.4m, whilst its NPI rose 12.2% YoY to US$38.7m.

The REIT attributed its strong performance to contributions from recently renewed leases, rental escalations from existing leases and its latest acquisition, Upland Square.

Meanwhile, distributable income for 9M 2023 stood at US$23.7 million.

To preserve unitholder value by minimising unit base dilution, the REIT’s manager has elected to receive 100% of its 3Q23 base fee in cash instead of units. 

On a like-for-like basis, assuming the manager received the 3Q23 base fee in units rather than cash, distributable income for 9M23 would have been US$24.5 million or 0.3% lower YoY.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Singapore net inflows hit $263.18m in 3Q23
Equity and fixed-income funds reported inflows during the quarter.
OCBC enables customers to lock money in their accounts
Locked funds cannot be used for payments, investments, and ATM withdrawals.


Italy brings its strong suits to Singapore’s fintech expo
Italian trade executive says 9 firms at the Singapore Fintech Festival 2023 exemplify the diverse range of products and expertise Italy can bring to the table.
Trust Bank sets the bar for digital banking in Asia Pacific
The digital bank targets to be Singapore's fourth largest retail bank, CEO Dwaipayan Sadhu said.
How brands can avoid inauthentic nostalgia marketing
A GlobalData expert flag inauthenticity in using throwback marketing and cite brand campaigns that are winning hearts.