The manager of United Hampshire US REIT has priced its initial public offering (IPO) at USD0.80 per unit.

The Singapore currency equivalent will be SGD1.12 per unit.

United Hampshire US REIT will be the first US-focused grocery-anchored shopping centre, and self-storage REIT in Asia.

The REIT lodged a preliminary prospectus to list on the Singapore Exchange (SGX) in February 2020.

Related: United Hampshire US REIT to list on SGX with 22 self-storage, grocery properties

The IPO price represents a yield of 7.4% for the March-December 2020 period.

It also translates to a yield of 7.6% for FY 2021.

Unitholders can opt to receive the distributions in USD or SGD.

Public offer for the United Hampshire US REIT opens at 9 am on 4 March, and closes at 12 pm on 10 March.

The REIT is expected to list on the SGX on 12 March.