United Hampshire US REIT - Annual Report 2025

Front Cover	1
Contents	2
Corporate Profile	2
2025 Highlights	4
Message to Unitholders	14
2025 Key Events	18
Trust and Tax Structure	18
Organisation Structure	20
The Sponsors and The Manager	20
Our Presence	20
Board of Directors	22
The Manager	26
U.S. Asset Manager	28
Financial Review and Capital Management	28
Operations Review	34
Property Portfolio	40
Property Summary	42
Sustainability and Climate Report	62
Investor Relations	108
Unit Price Performance	114
Corporate Governance	114
Financial Statements	152
Report of the Trustee	152
Statement by the Manager	154
Independent Auditors’ Report	154
Statements of Financial Position	158
Consolidated Statement of Comprehensive Income	160
Distribution Statement	160
Statements of Changes in Unitholders’ Funds	162
Consolidated Statement of Cash Flows	164
Portfolio Statement	166
Notes to the Financial Statements	168
Interested Person Transactions	212
Unitholding Statistics	214
Corporate Information	218
Back Cover	220

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