Happy New Tax Year! In QuotedData’s morning briefing 6 April 2021:
- NewRiver REIT says its joint venture with BRAVO Strategies III LLC (in which it holds a 10% stake) has completed the acquisition of The Moor, a 28 acre estate in Sheffield city centre, for £41.0m (a capital value of £60 per sq ft). The deal was announced on 19 February 2021. NewRiver will hold a 10% stake and will benefit from 10% of the net rental income of £4.0m per annum. NewRiver has also been appointed as asset and development manager, in return for a management fee calculated with reference to the gross rental income and development costs of the asset, and will receive other fees based on financial performance.
- Gore Street Energy Storage is proposing to issue up to 190m new shares at 102p. This is a 6.2% discount to the closing price on 1 April and a 2.4% premium to the last NAV. The money is intended to help fund some of its 1.3GW pipeline of new investments. The £60m raised in December has already been invested. The placing is open until 3pm on 22 April. Retail investors can apply through PrimaryBid.
- Impact Healthcare REIT has announced its intention to raise £50m through a placing of new shares. The issue price will be 111.5p – a 2.5% discount to its closing price on 1 April 2021 and a 1.8% premium to its most recently reported NAV of 31 December 2020. The proceeds will be used to repay debt and fund new acquisitions.