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EUR 93.18
For Business Accounts Only
The initial portfolio consists of 22 assets with an aggregate net lettable area (NLA) of 3.17m sqft on the East Coast of the U.S. The portfolio comprises 18 grocery & necessity properties with a total NLA of 2.86m sq ft and four self-storage Properties with a total NLA of 0.31m sq ft. The aggregate purchase consideration payable is US$582.5m.
While the assets are being marketed for their tenant’s e-commerce resilience, their past performance hasn’t exactly been steady. Furthermore, the outlook for the industry doesn’t appear rosy either.
In this note, I’ll look at the company’s past performance and highlight some of the issues with the deal
United Hampshire US REIT IPO - E-Commerce Resistant Maybe but Still Not Doing Great
United Hampshire US REIT (UHUS) aims to raise up to US$325m in its Singapore IPO. UHUS will invest in grocery-anchored and necessity-based retail properties, and self-storage facilities, located in the U.S.The initial portfolio consists of 22 assets with an aggregate net lettable area (NLA) of 3.17m sqft on the East Coast of the U.S. The portfolio comprises 18 grocery & necessity properties with a total NLA of 2.86m sq ft and four self-storage Properties with a total NLA of 0.31m sq ft. The aggregate purchase consideration payable is US$582.5m.
While the assets are being marketed for their tenant’s e-commerce resilience, their past performance hasn’t exactly been steady. Furthermore, the outlook for the industry doesn’t appear rosy either.
In this note, I’ll look at the company’s past performance and highlight some of the issues with the deal
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Sumeet Singh
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