By Joshua Burd
The Hampshire Cos. has announced the listing of a real estate investment trust on the Singapore Exchange, with a portfolio that spans 3.2 million square feet of retail and self-storage space.
Known as United Hampshire US REIT, the holdings include 18 grocery- and necessity-anchored retail assets and four modern, climate-controlled self-storage facilities across densely populated and affluent markets throughout the northeastern U.S. The portfolio had a value of $599.2 million as of the listing date last month, the Morristown-based firm said, while the listing marks Asia’s first U.S.-based grocery-anchored shopping center and self-storage REIT.
Singapore Exchange, or SGX, welcomed United Hampshire US REIT under the stock code ODBU.
“We are delighted to successfully list on the Mainboard of SGX,” said Robert Schmitt, CEO of United Hampshire US REIT Management Pte. Ltd. “We thank all investors who have put their confidence in our unique portfolio which we believe to be recession resistant and cycle-agnostic, and provides a stable cash flow from long leases with strong leasing momentum.
“This is just the beginning of our journey and we will focus on enhancing the REIT’s portfolio through acquisition and enhancement opportunities to generate sustainable long-term distribution growth for our Unitholders.”
United Hampshire US REIT is now one of 45 REITs and property trusts listed on SGX.
“As Asia’s global REITs hub, we are delighted to welcome United Hampshire US REIT to our growing family of REITs with international assets,” said Mohamed Nasser Ismail, global head of equity capital markets for SGX. “This latest listing brings the total number of U.S.-focused REITs on SGX to six, demonstrating continued investor interest in U.S. real estate. The United Hampshire US REIT offers investors an opportunity to diversify into new sectors.
“In the U.S., consumer retail spending continues to be robust with brick-and-mortar presence a key part of retailers’ omni-channel strategy, while self-storage is also one of the fastest-growing sectors.”
