Stenprop sells Euston House – Stenprop has reached agreement to sell of its London office building known as Euston House. The deal is being structured as a sale of all the shares of a special purpose vehicle owned by Stenprop to Erel 4 S.a.r.l. The deal values the property at £95m (£14.5m more than book value) […]
Riverstone Energy sells Meritage Midstream – Riverstone Holdings LLC, manager of Riverstone Energy Limited, has agreed the sale of 100% of its indirect membership interests in Meritage Midstream ULC to SemCAMS Midstream ULC, a newly formed joint venture between SemGroup Corporation (NYSE: SEMG) and KKR, for C$600 million (US$449 million). The transaction is expected to close […]
River and Mercantile Micro Cap reports on rollercoaster year – For River and Mercantile Micro Cap, the year to the end of September 2018 was another great one in performance terms. Its NAV return was 24.9%, considerably ahead of the 3.0% return posted by its benchmark. The growth of the company allowed it to give money […]
Thalassa makes possible offer for Local Shopping REIT – Thalassa says that it did not support Local Shopping REIT’s member’s voluntary liquidation in December 2018 for reasons that Thalassa has set out in previous announcements, most recently on 10 December 2018. On that date, Alliance News reported that “Thalassa said it was not meaningfully consulted by […]
Baillie Gifford US gets new co-manager – Recognising her contribution to the management of the Trust, the Board of Baillie Gifford US Growth Trust plc is pleased to announce that Helen Xiong will forthwith become co-manager of the Trust. Ms Xiong joined Baillie Gifford in 2008 as a graduate from the University of Cambridge, and has […]
NB Private Equity accelerates revamp with sale of funds – NB Private Equity is shifting its focus from investing in private equity funds to making direct investments. The sales process was focused on maximising value to NBPE shareholders both by absolute value and the opportunity cost of holding vs. selling. All fund investments were analysed and a decision […]
Safestore new stores power earnings uplift – Safestore reports that, for the year ended 31 October 2018, its EPRA NAV rose from 329p to 402p, an increase of 22%. EPRA earnings per share were up 15.5% to 26.8p on the back of a 10.8% rise in revenue. This in turn was the result of higher occupancy […]
Athelney EGM seeks to oust board – On 28 December 2018, Athelney Trust announced that an Extraordinary General Meeting of Athelney Trust Plc would be held at 11.30 am on Tuesday 22 January 2019 at Druces LLP, Salisbury House, London Wall, London, EC2M 5PS, for the purpose of considering Agenda item one, and if thought […]
LondonMetric Property sells three warehouses – LondonMetric Property has announced the disposal of three distribution warehouses for £24.3m (sold to a range of buyers), reflecting a blended net initial yield of 5.4%. The sale price achieved was 4% above book value. Two of the properties are located in Wakefield and the third is a regional distribution […]
LXI swaps Travelodges for industrial sites – LXi REIT has, following an unsolicited approach, sold two of its older Travelodge hotels, in Haverhill and Ipswich, to an institutional buyer for £12.6m. This translates as a low exit yield of 5.0%, which compares favourably to the acquisition yields of 5.92% and 6.12% paid in March and July 2017, […]
