This article is from the Australian Property Journal archive
ASX-listed US Student Housing REIT (USQ) has reported its portfolio as 67.2% pre-leased for the 2022/2023 academic year.
The REIT also reported rental increases of 7.8% at the end of March 2022, up from the previous year’s 4.3%, this along with pre-leasing results is across all 9 assets currently held by USQ.
While current pre-leasing is up 20.7% on the previous year, while current portfolio occupancy is at 94.3%.
The REIT believes that the current environment of low fixed rate debt and strong annual rental increases across its portfolio provides a significant hedge and will lead to net operating income improvements over time.
USQ is due to commence its management roadshow at 16 May 2022, with Australian Student Quarters senior management.
While the REIT will also deliver its maiden distribution in May of this year, in addition to CBRE commencing an independent asset revaluation on the USQ portfolio, which will be reflected in 30 June 2022 results.
