In QuotedData’s other news 9 March 2020 –
- Ongoing difficulties in the relationship between Pollen Street Secured Lending (PSSL) and its manager Pollen Street Capital (PSC) continue. PSC has been served notice of the termination of its management agreement (click here to read more). PSC has this morning released a statement (you can access it here) addressing operational restrictions it says are impinging on its ability to manage PSSL
- Foresight Solar (FSFL) published annual results to 31 December 2019. NAV increased to £628m (31 Dec 2018: £610.3m) while NAV per share decreased to 103.8p (31 Dec 2018: 111.2p), driven predominantly by a downwards revision in UK power price forecasts. At the company level, there was strong operational performance from the UK portfolio, 3.9% above budget, as a result of high irradiation and asset availability.
- Starwood European Real Estate Finance (SWEF) provided an update on portfolio activity over February. On 12th February 2020, the group committed to fund a hotel acquisition financing for a total commitment of £15m and on 27th February 2020 the group also committed to fund a £20m upsize to an existing fixed rate mezzanine loan to support the development of a mixed-use scheme in London. Starwood Property Trust, Inc (through a wholly owned subsidiary) is participating in 50 per cent of the loan amount, providing the company with a net commitment of £10m.
We also have news of Global Sustainable Farmland Income delaying its planned IPO until further notice due to market conditions and annual results updates from ScotGems and HgCapital.