United Hampshire Us Real Estate Investment Trust · SGX:ODBU
United Hampshire Us Real Estate Investment Trust — United Hampshire US REIT — H1 2023 Earnings Presentation
38 slides from United Hampshire Us Real Estate Investment Trust's earnings presentation, Aug 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 1H 2023 Financial Results 12 August 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 1H 2023 Key Highlights 9 1H 2023 Financial Results 13 Portfolio Update 20 Outlook 28 Investment Merits
Slide 4: 1H 2023 Key Highlights
1H 2023 Key Highlights Wallington ShopRite, New Jersey 4
Slide 5: Resilient Portfolio Providing Non-Discretionary Goods and Services
1H 2023 Key Highlights Resilient Portfolio Providing Non-Discretionary Goods and Services 63.3%1 of rental income 97.9% committed Long WALE of High tenant from tenants providing occupancy for Grocery 7.2 years3 for retention rate of essential services2 to & Necessity Properties Grocery & Necessity 9
Slide 6: Opportunistic Divestment to Enhance Portfolio Quality & Financial Flexibility
1H 2023 Key Highlights Opportunistic Divestment to Enhance Portfolio Quality & Financial Flexibility Transaction Details +7.7% +3.7% US$9.9 ✓ Proposed Divestment of Big Pine Center located on Big Pine Key in Florida, at an aggregate price mil of US$9.9 million US$9.5 o 3.7% over the appraised value
Slide 7: New Development Initiative Updates
1H 2023 Key Highlights New Development Initiative Updates Academy Sports Academy Sports illustrative image Construction view from the front Academy Sports + Outdoors at Port St. Lucie, Florida ✓ Expansion on existing excess land to construct a new 63,000 sq ft store which has been pre-leased to Publ
Slide 8: 14.0% Year-on-Year Growth in Net Property Income
1H 2023 Key Highlights 14.0% Year-on-Year Growth in Net Property Income Gross Revenue Net Property Income Distributable Income Distribution Per Unit (US cents) US$36.0 mil US$25.8 mil US$16.7 mil +13.3% +14.0% +2.2% Attractive dividend yield of 12.8%1 2.91 2.91 Retained 0.26 as capital reserve US$36
Slide 9: 1H 2023 Financial Results
1H 2023 Financial Results Upland Square, Pennsylvania 9
Slide 10: Distribution and Distribution Reinvestment Plan (DRP) Details
1H 2023 Financial Results Distribution and Distribution Reinvestment Plan (DRP) Details Distribution and DRP Details Distribution Period 1 January 2023 to 30 June 2023 Distribution Per Unit (US cents) 2.65 Ex Date 18 August 2023 Book Closure Date 21 August 2023 Date of announcement of Issue Price of
Slide 11: Healthy Balance Sheet
1H 2023 Financial Results Healthy Balance Sheet As at 30 Jun 2023 As at 31 Dec 2022 (US$’000) (US$’000) Investment Properties 764,720 761,052 Current Assets 16,583 21,233 Total Assets 783,453 785,903 Loans and Borrowings 314,833 314,300 Total Liabilities 356,967 358,308 Net Assets 426,486 427,595 Un
Slide 12: Prudent Capital Management with Well-Spread Debt Maturity Profile
1H 2023 Financial Results Prudent Capital Management with Well-Spread Debt Maturity Profile No refinancing requirements Adjusted Debt Maturity Profile in 2023 and only US$21.1 Assuming Extension Option is Exercised (US$ million) million mortgage loan maturing in 2024 3.5 years1 Long weighted average
Slide 13: Portfolio Update
Portfolio Update Hudson Valley Plaza, New York 13
Slide 14: Consistently High Committed Occupancy for Grocery & Necessity Properties
Portfolio Update Consistently High Committed Occupancy for Grocery & Necessity Properties Grocery & Necessity Properties High tenant retention rate of 92.0% since IPO Committed Occupancy (%) 100 96.2 96.7 96.9 97.0 97.9 1H 2023 80 No. of NLA Leases (Sq Ft) 60 New leases 40 • Government Services: 1 t
Slide 15: Bringing in Popular Brands to Our Properties
Portfolio Update Bringing in Popular Brands to Our Properties New Retail Tenant ✓ Popular retail chain in the U.S., which operates more than 500 stores New Furniture Tenant Bealls Outlet Store at St. Lucie West Raising Cane’s Restaurant at Penrose Plaza ✓ Renowned American furniture store chain, ope
Slide 16: Occupancy at Self-Storage Properties Remains High
Portfolio Update Occupancy at Self-Storage Properties Remains High Carteret Self-Storage 94.7 93.9 94.6 ✓Both Carteret and Millburn 100 92.4 91.7 30 Self-Storage Properties are 80 25 maintaining high occupancy 60 22.6 23.0 24.3 23.7 23.5 20 levels, currently at 94.6% and 40 95.8% respectively 15 20
Slide 17: Diversified and High-Quality Tenant Base
Portfolio Update Diversified and High-Quality Tenant Base Top 10 Tenants1 Trade Sector Breakdown2 Financial Others Auto Supply ShopRite 10.5% Services 1.1% 0.7% 2.0% BJ's Wholesale Fitness 10.0% Dental Club Holdings Services Ahold Self Storage 0.7% 9.5% 5.6% Delhaize 6.6% Discounter/ Grocery & Lowe'
Slide 18: Anchor Tenants' Sales Remain Healthy Coupled with Growth Y-O-Y
Portfolio Update Anchor Tenants’ Sales Remain Healthy Coupled with Growth Y-O-Y Sales Ahold Delhaize: U.S. comparable sales excluding gasoline grew 3.6% y-o-y 3.6% y-o-y1 in 2Q 2023. The sales growth was mainly driven by growth in customer loyalty and online sales. Ahold’s local brands, Food Lion an
Slide 19: Our ESG Goals and Journey
Portfolio Update Our ESG Goals and Journey Environment Stewardship People & Community • Engage with local communities and contribute to UHREIT’s target of 100 hours of staff volunteerism in FY2023 Discuss with top 10 tenants To install EV To install LED lighting • In June 2023, our employees chargin
Slide 20: Outlook
Outlook St. Lucie West, Florida 20
Slide 21: U.S. Economy Remains Resilient
Outlook U.S. Economy Remains Resilient 2023 GDP Forecast: +1.0%1 40% Real GDP Growth3 • U.S. real GDP increased at an annual rate of 2.4% in 2Q 2023, increasing from a 20% 2% growth rate in 1Q 2023 and well above the 1.8% forecasted by economists2 0% • July 2023 Unemployment Rate: 3.5%4 -20% • Total
Slide 22: U.S. Consumer Confidence Hits Two-Year High
Outlook U.S. Consumer Confidence Hits Two-Year High Retail Sales 1H 2023 Retail Sales June 2023 Grocery Sales June 2023 Discretionary Sales2 June 2023 +3.2% +1.5% +1.1% -0.7% year-on-year1 year-on-year1 year-on-year1 year-on-year1 U.S. consumer confidence index increased to 117.0 in July, above econ
Slide 23: Omnichannel Retailing – The Path to Value Creation
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 • The rise of “Phygital” retail: Phygital is an immediate,
Slide 24: New Innovations and Partnerships to Enhance Distribution
Outlook New Innovations and Partnerships to Enhance Distribution • Often enabled by technological advancements, retailers are constantly on the search for innovative sales strategies that boost their digital business and take full advantage of their stores1 • DoorDash continues to add brands to its
Slide 25: Resiliency in Self-Storage and Strip Center Property Values
Outlook Resiliency in Self-Storage and Strip Center Property Values % Change in Green Street Commercial Property Price Index • Green Street Commercial Property Price Index is a June’20 to June’23 time series of unleveraged U.S. commercial property 80% values that captures the prices at which commerc
Slide 26: Grocery & Necessity Retail Sector Continues to Demonstrate Resiliency
Outlook Grocery & Necessity Retail Sector Continues to Demonstrate Resiliency • Demand for space at power centers is bound to increase as big-box retailers execute their expansion plans. Off-price retailers including TJX Companies, Burlington, and Ross recently Strip Center Quarterly Leasing Volume2
Slide 27: Storage Demand Drivers Have Normalized with a Return Of Seasonality
Outlook Storage Demand Drivers Have Normalized with a Return Of Seasonality • Storage fundamentals are softening from the peak of 20211 Self-Storage REIT Same Store Occupancy1 Fundamentals • While move-in rents should improve through the peak leasing period, Moderating existing customer rate increas
Slide 28: Investment Merits
Investment Merits Garden City Square - BJ's Wholesale Club & LA Fitness, New York 28
Slide 29: Key Milestones and Accolades
Investment Merits Key Milestones and Accolades SGX Fast Track Awards Indices Inclusion ✓ UHREIT’s FY2022 Annual Report is recognized as the Platinum Winner ✓ FTSE ST Small-Cap Index ✓ Included in the SGX Fast Track, at the International Hermes Creative within 2nd year of listing, for Awards 2023 ✓ M
Slide 30: 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 31: Thank You
31 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: IR@uhreit.com 80 Raffles Place #28-21 UOB Plaza 2 Singapore 0486
Slide 32: Appendix
Appendix Colonial Square, Virginia 32
Slide 33: Income Stability & Diversification Across the Portfolio
Appendix Income Stability & Diversification Across the Portfolio North Carolina Virginia 4.1% 3.1% North Carolina Virginia 3.3% Self-Storage Self-Storage 4.3% 6.5% 5.4% New York Massachusetts 25.3% 6.6% Massachusetts New York 6.3% 25.6% Pennsylvania 18.0% Pennsylvania 17.9% Base Rent Net Property Ba
Slide 34: 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$ 742.7 million Name City %1 Garden City Sq. - BJ’s Grocery & Necessity MASSACHUSETTS – G&N Garden City
Slide 35: 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 36: 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 37: 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 38: Reputable Sponsors – UOB Global Capital & The Hampshire Companies LLC
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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