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UHREIT posts 7.6% YoY higher net property income in FY23

NPI for the period was US$50.7m.

United Hampshire US REIT (UHRET) recorded a 7.6% YoY increase in its net property income (NPI) in FY23 to reach US$50.7m ($68,1m).

In a bourse filing, the REIT said new leases and rental escalations from existing leases contributed to higher NPI.

Contributions from Upland Square and Academy Sports + Outdoors store at St. Lucie West also helped boost the REIT’s NPI.

In FY23, the REIT also recorded a 4.7% YoY higher portfolio valuation of US$763.4m ($1.03m).

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