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QuotedData’s morning briefing 9 March 2021

Triple Point Social Housing fully invested and ready to expand again

In QuotedData’s morning briefing 9 March 2021:

  • Triple Point Social Housing REIT (SOHO) has bought seven supported housing properties, comprising 68 individual units in total, for an aggregate consideration of approximately £12.1m. The properties are located in the North West (24 units), the North East (23 units), Yorkshire (10 units), the East (7 units) and the South East (4 units). New leases are in place for a minimum period of 20 years with the ability to extend. Rents are subject to upward only rent reviews increasing in line with inflation as measured by CPI. The leases are with specialist charities or housing associations regulated by the Regulator of Social Housing, including Blue Square Residential, Care Housing Association, Chrysalis Supported Housing and Independent Housing.
  • Riverstone Energy (RSE) says it has completed its £50m buyback programme after buying back 17,214,197 shares at an average of £2.90 per share since 1 May 2020. Its shares still trade on a discount of more than 34%.
  • Riverstone Credit Opportunities Income (RCOI) has committed $5.9m of a $50m loan to Roaring Fork Midstream, which owns and operates pipeline and storage related infrastructure moving natural gas and oil from the wellhead to market. The first lien term loan has a maturity of March 2024 and an expected all-in yield to maturity of 11.8% for the fund. It has also realised its loan investment to Project Yellowstone, a privately-owned, water midstream company that provides transportation and disposal infrastructure in central Oklahoma. Riverstone Credit Opportunities made an annualised return of 13.5% and 1.23x its investment.

We also have results from Foresight Solar Fund and Capital & Counties, and an acquisition by Stenprop.

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