JLL Capital Markets arranged a $250 million credit facility for United Hampshite US REIT

JLL Capital Markets has arranged a $250 million credit facility for United Hampshire US REIT, a Singapore REIT with 23 properties located across the East Coast. 

JLL’s Corporate Banking Advisory Group (“CBA”) represented the corporate borrowers, United Hampshire US Parent REIT, Inc. and United Hampshire US Holdings LLC (collectively the borrowers), both of which are wholly owned subsidiaries of United Hampshire US REIT (UHREIT), in the credit facility. The credit facility consisted of term loans and a revolving credit facility containing important flexibilities to accommodate long-term growth and is supported by a covenant structure consistent with REIT corporate financings.

United Hampshire US REIT is an externally managed, Singapore REIT listed on the Singapore Exchange Securities Trading Limited (SGX-ST) on March 12 of 2020. The REIT’s principal investment strategy is focused on investing in a diversified portfolio of stabilized, income-producing grocery-anchored and necessity-based properties and self-storage facilities in the United States of America.

Robert Schmitt, CEO of the Manager of UHREIT, said, “We are pleased to be able to work with JLL in successfully completing this refinancing, notwithstanding the challenging market conditions. This new credit facility significantly increases our weighted average debt maturity and eliminates any near-term loan refinancing requirements until 2024. Most importantly, the new debt facility will allow us to focus on optimising the performance of our properties while providing us the opportunity to grow the portfolio and deliver healthy returns to our unitholders.”

JLL’s Corporate Banking Advisory Group representing the REIT was led by senior managing director Anthony Fertitta and analyst Jonathan Koletic. The group specializes in arranging and structuring entity-level corporate finance transactions, including secured/unsecured credit facilities, subscription facilities, warehouse/repo facilities and other entity-level financing solutions for various REITs/REOCs, private equity funds, investment managers and other real estate clients. The opportunity was sourced by Jon Mikula and Michael Klein, out of JLL's New Jersey office, who hold long-standing relationships with The Hampshire Companies.