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QuotedData’s other news – 15 April 2019

QuotedData’s other news – 15 April 2019

Target Healthcare has completed the acquisition of a property in Formby, Merseyside for approximately GBP6.9 million

PRS REIT said that, at 31 March 2019 it had GBP603m in gross development cost, which equates to 3,951 new homes with an estimated rental value (“ERV”) of approximately GBP37.3m per annum when fully completed. Of the 3,951 homes, 944 were completed as at 31 March 2019, providing an ERV of GBP8.6m per annum.

During the first quarter of 2019, the PRS REIT entered into contracts to acquire six new sites, two of which will be developed by the Investment Adviser and sold to the Company at an independently assessed investment value, once completed and fully let. Three of the sites are located in the North West, two are in Suffolk and one is in Bedfordshire. When completed, the homes are expected to provide rental income of GBP4.2m per annum. Construction on four of the new sites has commenced, with one site having already produced its first homes.

NB Private Equity announced results for 2018 – 31 December 2018 Net Asset Value of $17.87 (GBP14.03) increased $0.42 (GBP1.12) from $17.45 (GBP12.91) NAV per Share at 31 December 2017. Total return of 5.5% and 2018 NAV increase of 2.4%.

RDL Realisation makes provision against Vehicle Services Contract platform – review indicates a substantial reduction in collateral security due to a variety of factors. Company has applied a risk adjusted discount rate which is considered appropriate for an unsecured loan, resulting in an impairment to the loan value. As a result, an additional reserve of approximately US$9 million to reflect the estimated impairment to the loan value has been recognised as at 31 December 2018. The combined balance of the two loans on the VSC platform as at 31 December 2018 was US$48,484,720. The total balance after the impairment charge is therefore US$39,375,720. Restructuring efforts are continuing.

Athelney Trust announced the appointment of Dr Manny Pohl and Simon Moore as non-executive directors – after much rigmarole – see our earlier posts

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