United Hampshire US REIT DPU rises by 4% in H1 2025

It increased to $2.7 (US$2.09) from $2.58 (US$2.01) a year ago.

United Hampshire US REIT (UHREIT) has reported that its distribution per unit (DPU) for the first half of 2025 was $2.7 (US$2.09), reflecting a 4% increase year-on-year (YoY).

The group also reported a gross revenue of $45.82m (US$35.7m) and net property income (NPI) of $30.8m (US$24m) in H1 2025. This represents a YoY decrease of 3% in gross revenue and 5.6% in NPI.

According to UHREIT, the decline was primarily due to the absence of contribution from three divested properties, the Freestanding Lowe’s and Sam’s Club properties within Hudson Valley Plaza and the Albany Supermarket, which were divested in August 2024 and January 2025, respectively.

Excluding the effect of these divestments, on a same-store basis, H1 2025 gross revenue and NPI increased by 2.6% and 2.4% YoY, respectively.

According to UHREIT, this was driven by the commencement of new leases and rental escalations from existing leases.

For H1 2025, the distributable income of UHREIT increased by 2.4% YoY to $16.68m (US$13m). The increase was attributed to reduced finance costs from lower interest rates and borrowings, following partial loan repayments made using proceeds from the divestments.