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QuotedData’s morning briefing 7 April 2021

In QuotedData’s morning briefing 7 April 2021 –

  • Urban Logistics REIT (SHED) has bought two assets for a total of £21.7m at a 6.14% net initial yield. The assets are in Warrington and Edinburgh. SHED also provided an update on its rent collection, noting that it collected 99% of rent due for the quarter to June. The remaining 1% is expected to be collected imminently.
  • JPMorgan Global Emerging Markets Income (JEMI) announced its interim results (to 31 January 2021) yesterday afternoon. The total NAV return came to 23.7% (the benchmark MSCI Emerging Markets index increased by 18.6% over the same period). Fifty-five per cent of the portfolio is invested in China and Taiwan, where economic activity is largely back to normal in many sectors. This contributed to relative performance, as did JEMI’s exposure to India, although the South Korean exposure was a relative drag.
  • Aberdeen Standard European Logistics Income (ASLI) announced the €28m acquisition of a logistics facility in Lodz, Poland. The 31,500 sqm scheme is fully let to six tenants and generates an annual income of €1.59m, equating to a net initial yield of 5.6%.
  • ASLI also provided an update on one of its tenants, Office Depot France, which appointed administrators in February 2021 while it sought new owners. The closing date for expressions of interest has passed and ASLI said it expects further dialogue with the administrator in the coming weeks. From a rental point of view, February and March 2021 rents have been paid and a total of one month’s rent plus a small element of deferred rent, amounting to €258,000, remains outstanding. ASLI has a three month security deposit from Office Depot France held in the bank.

We also have annual results from Impax Environmental, including a look at why 2020 was such a transformative year for the industry, and an update from Helical.

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