Glenstone REIT has received acceptances from holders of 2.4%, or over 1.9m, of shares in Alternative Income REIT (AIRE) to its 70p per share, £56.3m cash offer. That’s a big increase from the 0.025% or 17,849 shares it had last week but is short of what the 25.4% AIRE shareholder would have wanted to gain control. With the 2.4% personal stake of its director Adam Smith, Glenstone has nearly 27.8% of the small real estate investment trust. It said, as far as it was aware, Hawksmoor Investment Management had not yet accepted its offer on behalf of 4.5m shares for which it had signed a letter of intent. Investors are waiting to see if AEW UK REIT (AEWU) confirms its all-share offer at a 6% discount to net asset value by this Friday’s deadline. The deadline for accepting Glenstone’s offer expires at 1pm on 4 September which means investors who wait to hear from AEWU may not have enough time to instruct their share dealing platform to accept Glenstone’s offer, it said, urging them to accept. AIRE’s board has said that Glenstone’s offer fundamentally undervalues the company.

JPMorgan Global Core Real Assets (JARA) shares will be suspended at 7.30am on Thursday before a shareholder vote to liquidate the company which has completed its managed wind-down. Yesterday was the last day for dealings on a normal rolling two-day settlement basis.

The Investment Company (INV) has confirmed that Chelverton Asset Management, the UK smaller company specialist and its former fund manager, sold its 4.9% stake on 28 July. Dowgate Wealth, which replaced Chelverton and will run it as a flexible, wealth-preservation fund, owns 47.2%. The investment trust’s market value has shrunk to £10.3m from £42m following a 100% tender offer and share issue.