Pollen Street saga continues – Yesterday, Pollen Street Secured Lending’s board published a press release in which it rebuffed the merger proposal from Honeycomb. It also said that it intended to announce a replacement manager for the trust very shortly. The board said that the terms of the management agreement would provide significantly lower management and performance […]
Phoenix Spree bucks COVID trend – Phoenix Spree Deutschland says that, despite COVID-19, the Berlin residential property market has remained stable in the first half of the financial year. Transaction volumes have reduced but Jones Lang LaSalle GmbH (JLL) believes there is sufficient demand to support current pricing. As at 30 June 2020, the portfolio was […]
Urban Logistics secures three properties and a loan – Urban Logistics has made three purchases for a total of £36.8m and secured a new £151m loan facility. Colchester On 10 July 2020, Urban Logistics bought Interchange Park, on the A12 / A120 in Essex, for £9.8m. The logistics park has five units with an average […]
McKay buys Bracknell logistics property – McKay Securities has bought 1-4 Willoughby Road, a fully let logistics asset in Bracknell, for £10.0m, representing a net initial yield of 5.6%. The property was sourced off-market from a UK institutional vendor. The 2.7 acre freehold estate consists of two modern, self-contained units totalling 54,157 sq ft with large […]
One of the things that caught my eye in this morning’s BBC news was a photo of Mark Zuckerburg, looking rather smug, captioned “Facebook founder sees wealth hit $100bn after TikTok rival launch”. Apparently, Instagram Reels is set to capture the short-form video market from TikTok (no doubt helped enormously if Trump succeeds in banning […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: SDCL Energy Efficiency’s foray into EV charging Hipgnosis C shares and NAVs Hammerson’s expensive rights issue Syncona’s IPO of Freeline Watch it again here We’ll be back next week […]
Growth beats income but both BMO Managed portfolios beat benchmark – BMO Managed Portfolio Trust has published results for the year ended 31 May 2020. The NAV total return for an Income share was -7.3%, outperforming the All-Share Index which returned -11.2%. Growth shares did even better, with an NAV return of +1.5%. Income share dividend […]
Hammerson rights issue – Hammerson has announced a proposed rights issue to raise gross proceeds of approximately £552m and the sale of substantially all of the company’s 50% interest in VIA Outlets to a mutual fund managed by APG Asset Management N.V. for estimated cash proceeds of approximately €301m (equivalent to approximately £274m), to raise a […]
Civitas confirms cash raise likely, portfolio on-track – NAV edges up to 107.92p at end June from 107.87p at end March. Rents received as normal with no COVID 19 impact during the quarter. 1.35p dividend declared for the quarter as planned – on track for 5.4p for full year. The portfolio was valued on a yield of […]
Pantheon demonstrates undervaluation of private equity – Pantheon International has published results for the year ended 31 May 2020. These capture the panic and subsequent recovery in markets related to COVID-19. Pantheon’s NAV return was +4% over the year, which compares to -11.2% for the UK market and +7.4% for the MSCI World Index. This […]
