Pershing Square will pay modest dividend – Pershing Square Holdings has initiated a quarterly dividend of $0.10, representing a current yield of 2.5% (based on the closing price of $15.70 on 12 February 2019). The idea is that instituting a quarterly dividend will expand Pershing Square’s investor base by attracting shareholders who prefer or require dividend-paying […]
LXi gets coffee fix – LXi REIT has exchanged contracts to provide forward funding for the pre-let development of a portfolio of 13 separate Starbucks and Costa drive-thru format coffee shops for a combined consideration of GBP23.4 million, reflecting a 5.7% net initial yield (net of acquisition costs). The acquisitions are being funded with their new […]
New manager for Schroder Japan – Schroder Japan Growth Fund has announced that Masaki Taketsume will be assuming formal responsibility for its portfolio from 1 July 2019. Masaki has been at Schroders for over a decade, and this appointment represents the execution of the long-term succession plan for Andrew Rose who has decided to retire from […]
Thalassa firms up Local Shopping bid – Thalassa will offer a total of GBP9.0 million in cash and approximately 16,000,000 Thalassa shares in exchange for the 61,484,576 Local Shopping REIT shares it does not already own. The offer will also include a mix and match facility which will allow Local Shopping REIT shareholders to elect to vary […]
Alternative Liquidity makes plans to expand – The board and the manager, Warana Capital have been exploring various growth strategies for Alternative Liquidity Fund. The board is now announcing proposals to introduce a new class of ordinary shares which, when issued, will be used to invest in a diversified portfolio of illiquid funds, funds of funds and other […]
3i Infrastructure to sell Cross-London trains – 3i Infrastructure has agreed to sell its 33.3% stake in Cross London Trains, a company established to procure and lease the rolling stock for use on the Thameslink passenger rail franchise. The acquirer is a consortium of Dalmore and Equitix funds. The sale is conditional on certain third party […]
Infrastructure India edging closer to insolvency? – Infrastructure India has requested, but not yet been granted, a further extension of the date of maturity of the existing US$53.4 million unsecured bridging loan facility and the existing US$21.5 million working capital loan, both of which matured on 4 February 2019. On 31 July 2018, it announced that […]
Regional REIT buys Norfolk House, Birmingham – Regional REIT Limited has exchanged and completed on contracts to purchase Norfolk House, Smallbrook Queensway, Birmingham, for GBP20m, reflecting a current net initial yield of 7.92%. The deal was done off market. The 119,687 sq. ft. freehold property is in the centre of Birmingham; adjacent to Birmingham New Street […]
Warehouse REIT buys Glasgow air cargo centre – Warehouse REIT has exchanged contracts on the purchase of the Air Cargo Centre at Glasgow International Airport, from Airport Industrial Nominees Limited. The GBP11.1 million price represents a net initial yield of 6.7% and a reversionary yield in excess of 7%. The property is held by way of […]
Ground Rents Income loses court case – Ground Rents Income Fund says a High Court judgment has been handed down in connection with the recent hearing of the case between its wholly owned subsidiary North West Ground Rents Limited (‘NWGR’) and Blue Manchester Limited (‘BML’), a leaseholder within Beetham Tower, Deansgate, Manchester. In Ground Rents Income’s […]
