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QuotedData’s morning briefing 12 August 2022

In QuotedData’s morning briefing 12 August 2022:

  • abrdn Private Equity Opportunities (APEO) says that its estimated NAV at 31 July 2022 was 710.4p, down from 727.3p at the end of June, largely driven by a weaker euro and a dividend payment. Excluding new investments, 98.2% by value of portfolio was valued as at 31 March 2022. The trust paid a second interim dividend of 3.6p on 29 July 2022 and funded £13.6m of drawdowns with the help of £10.1m of distributions. One new primary commitment was made during July.
  • AEW UK REIT (AEWU) says that the sale of its ownership at Eastpoint Business Park in Oxford has completed on 8th August for £29m. The sale of the property at Moorside Road in Swinton for £1.7m completed on 9th August. Following these disposals, the trust has unconditionally exchanged contracts to acquire a high yielding asset located in Glasgow at a price of £2.6m, reflecting a low capital value of £99 per sq ft and providing an attractive net initial yield of 7.4%. The Glasgow asset comprises a solus leisure and retail warehousing unit let to JD Sports Gym Ltd, which operates 74 gyms in the UK and is a subsidiary of JD Sports Fashion Plc. It is located fronting the A81 Craigmont Drive, approximately 2.5 miles north-west of Glasgow city centre. The site also contains a vacant plot of land which may be suitable for redevelopment over the medium term, subject to planning. The lease provides an unexpired lease term of 10.6 years, benefitting from five-yearly upward-only reviews. The sale is due to complete in the week commencing 15 August.

We also have news of new investments for HydrogenOne Capital Growth and Octopus Renewables Infrastructure

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