United Hampshire Us Real Estate Investment Trust · SGX:ODBU
United Hampshire Us Real Estate Investment Trust — United Hampshire US REIT — Q1 2023 Earnings Presentation
30 slides from United Hampshire Us Real Estate Investment Trust's earnings presentation, May 12, 2023
Slide 1: Asia's First U.S. Grocery-Anchored Shopping Center & Self-Storage REIT
Asia’s First U.S. Grocery-Anchored Shopping Center & Self-Storage REIT 1Q 2023 Operational Updates 12 May 2023
Slide 2: Important Notice
Important Notice This presentation is for information only and does not constitute or form part of an offer, invitation or solicitation of any offer to purchase or subscribe for the Units in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in c
Slide 3: Table of Contents
Table of Contents Page Content 4 1Q 2023 Key Highlights 9 1Q 2023 Financial Highlights 12 Portfolio Updates and Outlook 21 Investment Merits
Slide 4: 1Q 2023 Key Highlights
1Q 2023 Key Highlights Price Chopper Plaza, New York 4
Slide 5: Portfolio and Operational Highlights
1Q 2023 Key Highlights Portfolio and Operational Highlights Colonial Square, Virginia Minimal lease High Grocery & Total Property Value Long WALE of rollover with only Necessity Committed US$738.7 million1, 7.4 years2 2.1% and 5.3% Occupancy of 97.0%, growth of 26.4% expiring for the up from 96.9% a
Slide 6: Significant Leasing Progress with Minimal Rollover Exposure
1Q 2023 Key Highlights Significant Leasing Progress with Minimal Rollover Exposure in 2023 and 2024 Lease Maturity Profile1 Trade Sector Breakdown2 69.2% Minimal leasing Financial Others risk, only 2.1% Fitness Services Auto Supply 0.9% of the leases 2.0% 0.7% expiring in 2023 Dental Services Self S
Slide 7: Occupancy at Self-Storage Properties Remains High
1Q 2023 Key Highlights Occupancy at Self-Storage Properties Remains High Carteret Self-Storage 100 92.5 94.7 93.9 92.4 91.7 30 ✓Both Carteret and Millburn 80 Self-Storage Properties are 25 maintaining high occupancy 60 24.3 23.7 21.6 22.6 23.0 20 levels, currently at 91.7% and 40 92.6% respectively
Slide 8: Proactive Asset Management Strategy
1Q 2023 Key Highlights Proactive Asset Management Strategy New Development Initiative - Academy Sports + Outdoors at St. Lucie West ✓ Expansion on existing excess land to construct a new 63,000 sq ft store which has been pre-leased to Academy Sports on a 15-year lease ✓ Estimated construction cost a
Slide 9: 1Q 2023 Financial Highlights
1Q 2023 Financial Highlights Hudson Valley Plaza, New York 9
Slide 10: Rise in Gross Revenue, Net Property Income and Distributable Income
1Q 2023 Financial Highlights Rise in Gross Revenue, Net Property Income and Distributable Income Gross Revenue Net Property Income Distributable Income (US$ million) (US$ million) (US$ million) +11.8% +13.5% +7.6% 16.2 18.1 11.4 12.9 8.1 8.8 1Q 2022 1Q 2023 ✓ Resilient performance by existing portfo
Slide 11: Prudent Capital Management with Well-Spread Debt Maturity Profile
1Q 2023 Financial Highlights Prudent Capital Management with Well-Spread Debt Maturity Profile No major refinancing until Adjusted Debt Maturity Profile Nov 20261 with only Assuming Extension Option is Exercised (US$ million) US$21.1 million mortgage loan due in 2024 3.7 years1 171.4 Weighted Averag
Slide 12: Portfolio Updates and Outlook
Portfolio Updates and Outlook Albany ShopRite – Supermarket, New York 12
Slide 13: Non-Discretionary Spending Remains Steady Despite Headwinds
Portfolio Updates and Outlook Non-Discretionary Spending Remains Steady Despite Macro-economic Headwinds Retail Sales 1Q 2023 Retail Sales March 2023 Grocery Sales March 2023 Discretionary Sales2 March 2023 +5.4% +2.9% +5.3% -2.3% year-on-year1 year-on-year1 year-on-year1 year-on-year1 Fewer Grocery
Slide 14: U.S. Major Retailers Serving As Our Top 10 Tenants
Portfolio Updates and Outlook U.S. Major Retailers Serving As Our Top 10 Tenants (By GRI1) ✓ Anchored by large creditworthy tenants in recession-resistant sectors such as grocery, discounters, wholesale and home improvement ✓ Long WALE for Top 10 Tenants at 8.9 years1 10.6% 10.1% 9.6% 5.2% 5.1% 4.3%
Slide 15: Anchor Tenants' Sales Remain Healthy
Portfolio Updates and Outlook Anchor Tenants’ Sales Remain Healthy Coupled with Growth Y-O-Y Sales Sales 6.2% y-o-y1 6.6% y-o-y1 Contributing Contributing 9.6% of rental2 4.3% of rental2 Ahold Delhaize: U.S. comparable sales excluding gasoline grew 6.2% y-o-y in 1Q 2023. Walmart: U.S. comparable sal
Slide 16: Omnichannel Retailing – The Path to Value Creation
Portfolio Updates and Outlook Omnichannel Retailing – The Path to Value Creation OMNICHANNEL RETAILING Buy in Store Curbside Pickup for Buy Online Pickup in Store Micro-Fulfilment of Consumers to Return/ Online/App Orders (BOPIS) Online/App Orders Exchange Goods • M-Commerce the New Norm: Defined as
Slide 17: New Innovations and Partnerships to Enhance Distribution
Portfolio Updates and Outlook New Innovations and Partnerships to Enhance Distribution • Retailers have been keen on leveraging their stores to support online ordering, and strip center anchors (>10,000 SF) are playing a key role in the last-mile distribution of goods1 • Strip centers stand to benef
Slide 18: Cooling Labour Market as Interest Rates Increase
Portfolio Updates and Outlook Cooling Labour Market as Interest Rates Increase and the Economy Slows 2023 GDP Forecast: +0.4%1 40% Real GDP Growth2 • U.S. real GDP increased by 1.1% in 1Q 20232, down from 2.6% recorded in 4Q 20% 20222, indicating a slowing economy 0% April 2023 Unemployment Rate: 3.
Slide 19: Grocery & Necessity Retail Sector Continues to Demonstrate Resiliency
Portfolio Updates and Outlook Grocery & Necessity Retail Sector Continues to Demonstrate Resiliency • A strong demand for anchor space has been one of the positive surprises of the post Annual 5-Year Supply Growth3 Strong pandemic recovery1 Demand • The Strip Center Sector REIT’s leased occupancy st
Slide 20: Storage Demand Drivers Have Normalized with Return of Seasonality
Portfolio Updates and Outlook Storage Demand Drivers Have Normalized with a Return Of Seasonality • In recent months, storage demand drivers have normalized with a REIT Average Same Store Occupancy1 return of seasonality (i.e., quieter leasing in the fall and winter) and Influence of lower overall m
Slide 21: Investment Merits
Investment Merits St. Lucie West, Florida 21
Slide 22: Key Milestones and Accolades
Investment Merits Key Milestones and Accolades SGX Fast Track Awards Indices Inclusion ✓ UHREIT’s FY2022 Annual Report is ✓ Included in the SGX Fast Track, recognized as the Platinum Winner ✓ FTSE ST Small-Cap Index within 2nd year of listing, for at the International Hermes Creative ✓ MSCI Singapor
Slide 23: Why Invest in United Hampshire US REIT
Investment Merits Why Invest in United Hampshire US REIT Stable Cashflows Yield & Growth • Grocery & Necessity and Self-Storage • Exposure to strong US Consumer sector properties are generally considered cycle- improving employment situation and rising agnostic and not as vulnerable to cyclical cons
Slide 24: Thank You
24 Thank You UHREIT Website Follow us on Linkedin For enquiries, please contact: Ms Wong Siew Lu, CFA, CA (Singapore) https://www.uhreit.com/ Head of Investor Relations and Sustainability https://www.linkedin.com/company/uhreit/ Email: wongsiewlu@uhreit.com 80 Raffles Place #28-21 UOB Plaza 2 Singap
Slide 25: Appendix
Appendix Lawnside Commons, New Jersey
Slide 26: Assets Across States Focused on the East Coast
Appendix 23 Assets Across 8 States Focused on the East Coast Portfolio of 21 Shopping Centers and 2 Self-Storage Properties NEW YORK – G&N NLA: 3.8 million sq ft NEW YORK Total Property Value1: US$ 738.7 million Name City %1 Grocery & Necessity MASSACHUSETTS – G&N Hudson Valley Plaza Kingston 6.6 7
Slide 27: Locations of UHREIT's Self-Storage Properties
Appendix Locations of UHREIT’s Self-Storage Properties • Undersupply of Self-Storage facilities in New York Metro Area Newark Liberty Manhattan Int’l Airport Jersey City Millburn Self-Storage • Regional access to New York Statue of Port Newark Liberty Brooklyn City and metropolitan areas via major h
Slide 28: United Hampshire US REIT's Journey Since its Listing
Appendix United Hampshire US REIT's Journey Since its Listing UHREIT’s Unique Positioning – Fulfilling the Evolving Essential Needs of U.S. Consumer Resilient Portfolio located in the U.S. Asia’s First U.S. Grocery- • Stabilised income-producing Tenants are generally Anchored Shopping Center grocery
Slide 29: Trust Structure
Appendix Trust Structure Unitholders Ownership of Units Distributions Trustee Services Management Services Tax Efficient Structure Trustee REIT Manager Trustee Fees Management Fees • No U.S. corporate tax (21%) and U.S. withholding tax (30%) 100.0% Ownership Dividends Dividends 100.0% Ownership Mana
Slide 30: Reputable Sponsors – UOB Global Capital & The Hampshire Companies
Appendix Reputable Sponsors – UOB Global Capital & The Hampshire Companies LLC >60 year track record A Synergistic Long-Term Partnership >20 year track record 190 properties >10 year partnership US$3.0b AUM >US$2.0b AUM 3 co-managed funds >15 million sq ft retail space acquired/developed 3 co-invest
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