United Hampshire U.S. REIT acquires $86m grocery-anchored asset

United Hampshire U.S. REIT Management, the manager of United Hampshire U.S. REIT (UHREIT), has announced its proposed acquisition of a dominant grocery-anchored freehold asset, Upland Square Shopping Center.

The asset is a dominant, community shopping center located in Pottstown, Pa., with a purchase price of approximately $85.7 million, which the manager says will be accretive to distribution per unit (DPU). This represents UHREIT’s second acquisition in Pennsylvania, further extending its footprint in the affluent Eastern seaboard.

Pottstown, Pa., is a borough in the northwest section of Montgomery County, the third-highest populous county in the state. The shopping center is strategically positioned within the Philadelphia Core Based Statistical Area and benefits from strong regional and local accessibility as well as the proliferation of peripheral draws. Major roadway proximity to the property provides the necessary access to more regional destinations throughou