The North American Property Unit Trust saw its net assets rise to $330.4m (£202m) in 1989, with unitholders receiving a distribution of £1,973 (£1,775). The trust says that the US market is “looking increasingly promising”; it is keen on regional shopping malls, which make up 81%, by value, of its £269.7m portfolio. During the year it agreed to buy Largo Mall near Tampa, Florida, which will provide 600,000 sq ft of shopping when complete.
The remainder of the portfolio consists of three office buildings in Pittsburgh, Minneapolis and New York City. During 1989, the price of a unit rose to £91,707 (£69,871).
