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QuotedData’s morning briefing 18 October 2021

In QuotedData’s morning briefing 18 October 2021:

  • LondonMetric Property has bought two last mile logistics assets in Fulham and Tottenham for a combined purchase price of £20.2m. The assets total 44,000 sq ft and have been acquired with vacant possession in two separate transactions. LondonMetric will refurbish both properties at a cost of £1.4m which, once fully let, is expected to deliver a blended yield on cost of 4.5%. At the 21,000 sq ft warehouse in Fulham, terms have already been agreed with Jacuna Kitchens, a dark kitchens operator, to pre-let c.60% of the space.
  • Gabelli Merger Plus says that over the 12 months ending 30 June 2021, its NAV total return was 12.1% (in US dollars). They compare this to three-month T’Bills (which yield less than 0.1%) and also relative to the MNA ETF, S&P Merger Arbitrage Index, and Credit Suisse Merger Arbitrage Liquid Index, which returned 8.71%, 10.25%, and 12.30%, respectively. The share price total return was 5.5% as the discount widened.

We also have a new development in the tussle over Gresham House Strategic, news of HydrogenOne Captal Growth‘s first private equity investment and a £166.4m portfolio acquisition by Home REIT.

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