United Hampshire US Reit to acquire grocery-anchored assets for US$78.3m; proposes private placement to raise US$30m

UNITED Hampshire US Real Estate Investment Trust (UHReit) ODBU has proposed to acquire two grocery-anchored freehold assets in Pennsylvania and Virginia, United States, for US$78.3 million.

The acquisition is the Reit's first after its initial public offering in March, 2020 and is also its first entry into Pennsylvania and Virginia, it said in a bourse filing on Tuesday.

The purchase price comprises US$52 million for Penrose Plaza in Philadelphia, Pennsylvania and US$26.3 million for Colonial Square Shopping Center, Colonial Heights in Richmond, Virginia.