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QuotedData’s morning briefing 6 April 2021

The Moor Sheffield NRR

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.

We also have news of an acquisition by SDCL Energy Efficiency, VH Global’s first investment

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