United Hampshire US REIT's NPI slips 1.6% YoY in H2 2024

NPI for the period was $32.7m (US$24.4m).

United Hampshire US REIT’s net property income (NPI) slipped by 1.6% year-on-year to $32.7m (US$24.4m) during the second half of financial year 2024 ended 31 December.

The company attributed the decline to the absence of contributions from the divested properties including Big Pine Centre and Lowe’s and the Sam’s Club properties in Hudson Valley Plaza.

Higher property expenses unrecoverable from tenants due to temporary lower occupancy during transitions also impacted the NPI.

The REIT's distributable income also dropped by 6.8% to $17.1m (US$12.8m).

($1=US$0.74)

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