United Hampshire Us Real Estate Investment Trust · SGX:ODBU
United Hampshire Us Real Estate Investment Trust — United Hampshire US REIT — FY2024 Earnings Presentation
42 slides from United Hampshire Us Real Estate Investment Trust's earnings presentation, Feb 19, 2025
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 FY 2024 Financial Results 19 February 2025
Slide 2: Important Notice
Important Notice This announcement is for information purposes only and does not constitute or form part of an invitation, solicitation or offer to any person in Singapore or otherwise to acquire, invest in, purchase or subscribe for any units ("Units") in UHREIT nor shall it or any part of it form
Slide 3: Table of Contents
Table of Contents Page Content 4 U.S. Market Update 9 FY 2024 Key Highlights 14 FY 2024 Financial Results 19 Portfolio Update 26 Investment Merits
Slide 4: U.S. Market Update
U.S. Market Update UNITED-HéPSHRE
Slide 5: U.S. GDP Continues to Grow and Inflation has Fallen Meaningfully
U.S. Market Update U.S. GDP Continues to Grow and Inflation has Fallen Meaningfully 11 Consecutive Quarters of U.S. GDP Growth U.S. Inflation has fallen to 3.0%3 • 2024 GDP growth forecast: +2.5%1 • Inflation rate has declined significantly from 9.1%3 in Jun 2022 8% Real GDP Growth2 12% 9.1% 8.5% 8.
Slide 6: Positive Momentum in U.S. Consumer Activity
U.S. Market Update Positive Momentum in U.S. Consumer Activity Retail Sales Full Year 2024 Retail Sales January 2025 Grocery Sales January 2025 +2.6% +4.2% +3.9% year-on-year1 year-on-year1 year-on-year1 U.S Retail Sales Cool in January After Strong Holiday Surge • U.S. retail sales rose 4.2% y-o-y
Slide 7: Favourable Outlook for Grocery-Anchored Strip Centers
U.S. Market Update Favourable Outlook for Grocery-Anchored Strip Centers Stores Play an Important Role as part of a Multichannel Market Rent Growth Above Historical Averages in 2024 and Customer Experience Expected to Remain Strong from 2025 to 2029 Stores serve as a pickup spot for online orders to
Slide 8: Resiliency in Self-Storage and Strip Center Property Values
U.S. Market Update Resiliency in Self-Storage and Strip Center Property Values % Change in Green Street Commercial Property Price Index from June 2020 to Dec 2024 • Green Street Commercial Property Price Index is a time series of unleveraged U.S. commercial property values that captures the prices a
Slide 9: FY 2024 Key Highlights
FY 2024 Key Highlights Colonial Square, Virginia
Slide 10: Resilient Operational Performance Fueled by Strong Leasing Momentum
FY 2024 Key Highlights Resilient Operational Performance Fueled by Strong Leasing Momentum Operational Financial Capital Valuation Performance Performance Management and NAV High Long Increasing Lower Portfolio Occupancy WALE DPU Gearing Valuation 97.5% 8.1 years +2.0% Improved to 38.9% +2.9% Grocer
Slide 11: Portfolio valuation increased by 2.9% y-o-y
FY 2024 Key Highlights Portfolio valuation increased by 2.9% y-o-y On a like-for-like basis, UHREIT’s AUM 28.8% Since IPO FY2024 portfolio valuation increased by 2.9%1 y-o-y, reflecting a consistent US$752.9 US$584.6 mil growth trend since IPO2, supported by mil Academy Sport at Port St. Lucie our r
Slide 12: Significant Portfolio and Asset Management Achievements Over the Past 12 Months
FY 2024 Key Highlights Significant Portfolio and Asset Management Achievements Over the Past 12 Months New Grocer Opening New Store Opening Lowe’s Divestment New Grocer Opening Albany Divestment Aug 24: Divestment of Jan 25: Divestment of Jun 24: Price Chopper Aug 24: Dick’s Sporting Oct 24: Food Ba
Slide 13: Opportunistic Divestment to Strengthen Capital Structure and Enhance Financial Flexibility
FY 2024 Key Highlights Opportunistic Divestment to Strengthen Capital Structure and Enhance Financial Flexibility Divestment of Lowe’s and Sam’s Club Divestment of within Hudson Valley Plaza Albany-Supermarket ✓ The property was divested in Jan 2025 for a consideration of US$23.8 mil, matching the i
Slide 14: FY 2024 Financial Results
FY 2024 Financial Results UNITED-H2<PSH |RE “se
Slide 15: Resilient Financial Performance
FY 2024 Financial Results Resilient Financial Performance Gross revenue was higher mainly due to: Distributable Income Distribution Per Unit (US$ mil) (US cents) • Rent commencement from new leases • Rental escalations from existing leases • Higher recoveries income • Contribution from the new Acade
Slide 16: Well-Spread Debt Maturity Profile with No Refinancing Required until November 2026
FY 2024 Financial Results Well-Spread Debt Maturity Profile with No Refinancing Required until November 2026 Debt Summary as of 31 Dec 2024 Aggregate Leverage 38.9% Weighted Average Interest Rate No Refinancing No Swaps 26.4% (US$80m) 5.17%2 Requirement until Maturing until of Floating Rate Nov 2026
Slide 17: Healthy Balance Sheet, Stable NAV
FY 2024 Financial Results Healthy Balance Sheet, Stable NAV As at 31 Dec 2024 As at 31 Dec 2023 (US$’000) (US$’000) Investment Properties 749,872 785,001 Investment Property 23,800 - Held For Divestment Other Current Assets 24,717 22,814 Total Assets 799,998 808,758 Loans and Borrowings 299,845 323,
Slide 18: Distribution Schedule
FY 2024 Financial Results Distribution Schedule Distribution and Distribution Reinvestment Plan (DRP) Details Distribution Period 1 July 2024 to 31 December 2024 Distribution Per Unit (US cents) 2.05 Ex Date 26 February 2025 Book Closure Date 27 February 2025 Date of announcement of Issue Price of U
Slide 19: Portfolio Update
UNITED-H#MPSHIRE
Slide 20: Artificial Intelligence Redefining In-Store Shopping Experience
Portfolio Update Artificial Intelligence Redefining In-Store Shopping Experience Adaptive Retailing Physical Stores are Critical to Retailers AI will drive the rise of Adaptive Retail, meeting you at the point of convenience to deliver exactly what you want, how you want. Innovations like “Text to S
Slide 21: Strong Committed Occupancy with Well-Distributed Lease Expiry
Portfolio Update Strong Committed Occupancy with Well-Distributed Lease Expiry Grocery & Necessity Properties Committed Occupancy (%) 4Q 2024 FY 2024 100 97.9 97.4 97.5 96.2 96.9 96.3 95.0 94.7 94.8 95.3 NLA NLA 95 No. No. (Sq Ft) (Sq Ft) 90 85 New leases signed 4 84,591 8 160,397 80 Lease renewals
Slide 22: Resilient Portfolio with a Diversified Tenant Base led by leading Grocers
Portfolio Update Resilient Portfolio with a Diversified Tenant Base led by leading Grocers Top 10 Tenants1 WALE of top 10 tenants : 10.4 years1 Tenants providing essential services3 ✓ 60% of Grocery & Necessity Portfolio1 ✓ Long WALE of 8.7 years1 10.5% BB+2 7.8% 6.5% BBB+2 6.0% 5.5% ShopRite – 7.5%
Slide 23: Occupancy at Self-Storage Properties Remained High
Portfolio Update Occupancy at Self-Storage Properties Remained High Carteret Self-Storage UHREIT’s two Self-Storage 94.2 95.8 94.7 92.4 94.6 91.3 95.6 93.2 properties, Carteret and Millburn 100 88.1 30 Selt-Storage, which are located in 80 25 the New York metropolitan area, 60 have performed well, d
Slide 24: Anchor Tenants' Sales Remain Healthy
Portfolio Update Anchor Tenants’ Sales Remain Healthy Sales Sales 4.9% y-o-y1 5.3% y-o-y1 Contributing Contributing 2.9% of rental2 2.8% of rental2 Publix Super Markets, Inc: Publix’s sales for the three months ended 28 Walmart: U.S. comparable sales excluding fuel grew 5.3% y-o-y in 3Q 2025, Septem
Slide 25: Our ESG Goals and Journey
Portfolio Update Our ESG Goals and Journey Environmental Stewardship People & Community ✓ Surpassed UHREIT’s target of 100 hours of staff volunteerism in FY2024, clocking in 116 Hours ✓ In June and July 2024, our employees in Singapore volunteered at KidSTART, a nonprofit organization that specialis
Slide 26: Investment Merits
Investment Merits UNITED-H#MPSH IRE
Slide 27: Key Milestones and Accolades
Investment Merits Key Milestones and Accolades SGX Fast Track Awards Indices Inclusion ✓ Awarded in The Edge Singapore’s ✓ Included in the SGX Fast Track, ✓ FTSE ST Small-Cap Index Centurion Club Awards 2024, under within its 2nd year of listing for the REITs sector for good compliance track record
Slide 28: UHREIT's Growth Driven by Multiple Drivers
Investment Merits UHREIT’s Growth Driven by Multiple Drivers Occupancy Accretive Growth via Acquisitions Improving portfolio occupancy to Pro-active Capital Recycling with three DPU increase Revenue and NPI. Leases are accretive Acquisitions (US$164 mil) and five largely triple net with tenants reim
Slide 29: Why Invest in United Hampshire US REIT
Investment Merits Why Invest in United Hampshire US REIT Strong and Reputable • UOB Global Capital, an asset management subsidiary of UOB with US$4.1 billion AUM 1 Sponsors • The Hampshire Companies, a U.S. based real estate specialist with over 60 years track record High Quality Assets with • 22 Gr
Slide 30: Thank You
30 Thank You UHREIT Website Follow us on LinkedIn Icon Description automatically generated 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 Raffle
Slide 31: Appendix
UNITED-H#\MPSHIRE
Slide 32: 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 ~170 properties >15 year partnership US$4.1b AUM >US$1.4b AUM 3 co-managed funds >14.0 million sq ft retail space owns and/or operates 3 co-i
Slide 33: Prime Positioning of UHREIT's Properties
Appendix Prime Positioning of UHREIT’s Properties Property Metrics NLA: 3.6 mil sq ft AUM: US$752.9 mil3 20 Grocery & Necessity1 and NEW YORK1 2 Self-Storage Properties Grocery & Necessity located along eight states in 7 Properties MASSACHUSETTS the Populous and Affluent 892,809 sq ft Grocery & Nece
Slide 34: Proactive Portfolio and Asset Management Track Record
Appendix Proactive Portfolio and Asset Management Track Record 2024 2023 2022 Strategic Divestment 2021 7.7% Above Purchase Accretive Acquisition Price Construction • Upland Square • Big Pine Center • Publix Store, Port St. Lucie (US$85.7 mil, 400k sq ft) (US$9.9 mil, 93k sq ft) Expansion (55k sq ft
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 Statue of York City and metropolitan Port Newark Liberty Brooklyn areas via major h
Slide 36: Trust Structure
Appendix Trust Structure Unitholders Tax Efficient Structure • No U.S. corporate tax (21%) and U.S. Ownership of Units Distributions withholding tax (30%) Trustee Services Management Services Trustee REIT Manager • No Singapore corporate tax (17%) and Trustee Fees Management Fees withholding tax (10
Slide 37: Acquisition of Grocery-Anchored Assets
Appendix Acquisition of Grocery-Anchored Assets Colonial Square Penrose Plaza Upland Square Location Virginia Pennsylvania Pennsylvania Acquisition Date Nov 2021 Nov 2021 Jul 2022 Land Tenure Freehold Freehold Freehold NLA (Sq Ft) 168,520 262,252 399,559 WALE (years) 6.0 7.3 4.9 Purchase Price US$26
Slide 38: Asset Enhancement and Development
Appendix Asset Enhancement and Development Construction of Construction of St. Lucie West Expansion Academy Sports + Outdoors at Perth Amboy Self-Storage Publix Super Market St. Lucie West Location New Jersey Florida Florida Jan 2021 Construction Completion March 2021 Nov 2023 (Divested in June 2022
Slide 39: Opportunistic Divestments
Appendix Opportunistic Divestments Elizabeth and Lowe’s and Sam Club Big Pine Perth Amboy properties within Albany - Supermarket Center Self-Storage Hudson Valley Plaza Location New Jersey Florida New York New York Divestment Date June 2022 Aug 2023 Aug 2024 Jan 2025 Divestment US$45.5 mil US$9.9 mi
Slide 40: Portfolio Overview - Grocery & Necessity Properties
Appendix Portfolio Overview - Grocery & Necessity Properties Committed Property Value Property Name Location Land Tenure NLA (Sq Ft) WALE (years) Occupancy1 (US$ Million) Garden City Square - New York Freehold 121,000 100% 7.9 57.8 BJ's Wholesale Club Garden City Square - LA New York Freehold 55,000
Slide 41: Portfolio Overview - Grocery & Necessity Properties (Cont'd)
Appendix Portfolio Overview - Grocery & Necessity Properties (Cont’d) Committed WALE Property Value Property Name Location Land Tenure NLA (Sq Ft) Occupancy1 (years) (US$ Million) St. Lucie West Florida Freehold 381,648 96.5% 8.4 101 Arundel Plaza Maryland Freehold 282,039 100% 6.7 49.5 Parkway Cros
Slide 42: Portfolio Overview - Self-Storage Properties
Appendix Portfolio Overview - Self-Storage Properties Property Value Property Name Location Land Tenure NLA (Sq Ft) Occupancy (US$ Million) Carteret New Jersey Freehold 74,175 93.2% 22.1 Self-Storage Millburn New Jersey Freehold 80,923 92.9% 29.8 Self-Storage Information as at 31 Dec 2024. 42
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