LondonMetric Property swaps M&S for Lidl – LondonMetric Property has sold two M&S convenience stores for GBP10.7 million, reflecting a NIY of 4.5%, and purchased a convenience development in Durham pre-let to Lidl for GBP13.3 million, reflecting a yield on cost of 5.4%. The two M&S stores that have been sold were purchased by LondonMetric […]
Residential Secure Income REIT patience required – Residential Secure Income REIT has announced its first results, these cover the period from launch in July 2107 to 31 March 2018. In the period under review they acquired 1,341 residential units located across England, Wales and Scotland. All of these units are used to provide age-restricted retirement housing and are […]
Regional REIT sells industrial portfolio – Regional REIT, the UK regional office and industrial property focused real estate investment trust, today announces it has exchanged and completed on the disposal of an industrial property portfolio for GBP39.1m. This reflects a net initial yield of 6.9%. The sold industrial portfolio comprised of 15 industrial property assets, […]
BioPharma Credit makes new loan to TESARO – BioPharma Credit has funded, together with other investors, the US$200m second tranche of the aggregate US$500m loan to TESARO, Inc. that was announced on 21 November 2017. BioPharma Credit funded US$100m and assigned its remaining US$48m second tranche commitment to other investors, resulting in a total investment in […]
Montanaro European Smaller benefits from narrowing discount – the net asset value of Montanaro European Smaller Companies Trust rose by 10.8% to 901.1p per share over the year to the end of March 2018. The share price did even better – rising by 15.1% to 800.0p, as the discount narrowed from 14.5% to 11.2%. The fund’s […]
BBGI invests in Canadian hospital – BBGI SICAV S.A. says that it has now completed its investment in the McGill University Health Centre, an investment made through the existing strategic partnership between it and SNC-Lavalin Group Inc. (that was announced last year). The asset, as described below, is classified as availability-based under the investment policy of the […]
Funding Circle SME Income cuts dividend forecast – Funding Circle SME Income Fund’s board has announced that it “has noted a material increase in the cost of hedging the company’s US Dollar-denominated assets back into sterling“. It blames “divergent monetary policy and economic prospects in the US and UK, which has seen a significant widening […]
Tritax Big Box forward funds Darlington facility – Tritax Big Box REIT has exchanged contracts for the forward funded development of a new logistics fulfilment centre at Link 66, Darlington, pre-let to a “financially robust world leading retailer”. Completion is expected in early July 2018 when the land will be acquired and the development will […]
Miton Global Opportunities reports upbeat results as liquidity opportunity looms – Miton Global Opportunities has reported a total return on net assets of 11.1% for the year ended 30 April 2018. the return to shareholders was a bit better at 12.7%, reflecting a narrowing of its discount to 1.2%. The fund compares itself to a […]
Ediston frees up floor space at St Philips Point – Ediston Property Investment Company has restructured its lease terms with Weightmans LLP (‘Weightmans’) at St Philips Point, Birmingham. At the moment, Weightmans occupy 37,395 sq. ft. across three floors, on three leases which expire in July 2019. The current annual rent is GBP606,452. Ediston has signed […]
