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QuotedData’s morning briefing 24 January 2022

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In QuotedData’s morning briefing 24 January 2022

  • Digital 9 Infrastructure (DGI9) will hold a general meeting on 14 February to ask shareholders to consider, and if thought fit, approve the amendment to the company’s investment policy. It is proposed that the existing policy is amended, inter alia, by replacing the size restriction and change the relevant threshold from 20% of gross asset value to 25% of adjusted gross asset value.
  • Aberdeen Japan (AJIT) has renewed its ¥1.3bn fixed rate loan facility with ING Bank for a one year period to 20 January 2023. Under the terms of the renewed facility, ¥1.3bn has been drawn down at an all-in interest rate of 0.90% per annum and the proceeds have been used to refinance the company’s previous ¥1.3bn fixed rate loan with ING.
  • HgCapital (HGT) will join as a strategic investor and joint shareholder of Waystone Group, a provider of institutional governance, risk, and compliance services to the asset management industry. This comes as private equity firm, Montagu, completes its investment in the company. Montagu and Hg will partner with the company’s management team, led by CEO Derek Delaney, to continue to grow and complement Waystone’s existing service offering while supporting further geographic and product expansion through targeted acquisitions. Hg’s investment is subject to regulatory approval and customary closing conditions.
  • Unite Students (UTG) has acquired a 270-bed student development site in Nottingham city centre. Total development costs for the scheme, which will open for the 2024/25 academic year, are estimated to be £34m and is expected to deliver a yield on cost of 7%. Nottingham is home to two universities, the University of Nottingham and Nottingham Trent University, serving 64,000 full-time students. The newly acquired site is located on Lower Parliament Street in the heart of the city centre, close to Nottingham Trent University’s campus as well as the University of Nottingham’s planned city centre campus development for final-year and postgraduate students.
  • BMO Real Estate Investments (BREI) has posted a 10.4% NAV total return for the quarter to the end of December 2021. The group’s NAV was up 9.5% to 121.0 pence, driven by a 7.1% increase in the value of its property portfolio to £385.8m. The value of the group’s industrial and logistics assets, which account for 53.3% of the portfolio, was up 12.8% in the quarter.

We also have interim results and management changes at Invesco Asia.

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