Dunedin Enterprise sells Kee Safety – Dunedin Enterprise Investment Trust says that a contract has been signed, subject to completion, to sell its investment in Kee Safety, the market-leading provider of collective fall protection, safety systems and solutions. Completion of the transaction is due on 31 October 2017. Capital and accrued interest in Kee Safety […]
LXi funds Lidl in Chard – LXi REIT has exchanged contracts to provide forward funding for the development of a new food store in Chard, Somerset, pre-let to Lidl UK GmbH. The development represents an investment of GBP5.5 million, reflecting a net initial yield of 5.75% (net of acquisition costs). The property will comprise a […]
Longbow makes loans against Kingston property – ICG Longbow has completed a new loan to a privately-held property company with an aggregate value of GBP9.0 million. The ‘Quattro Loan’, which matures in January 2021, carries an initial LTV ratio of 83.7% and is secured by first ranking charges against a portfolio of three mixed-use properties […]
JPMorgan Smaller Companies’ board calls for more conviction from manager – JPMorgan Smaller Companies says that, for the year ended 31 July 2017, the total return on its net assets was +31.0%, compared with +23.4% recorded by the benchmark index. However, the return to shareholders was +28.7%, reflecting a widening of the share price discount […]
Empiric Student Property makes rare sale – The Board of Empiric Student Property plc says that the group has exchanged contracts to sell the freehold of a site in Forthside Way, Stirling for GBP2.0 million (excluding costs). The disposal is expected to complete on 27 November 2017. This site was acquired by the group in August […]
CatCo NAV plummets on hurricane impact – Markel CATCo Investment Management Ltd., has announced that the unaudited net asset value of CatCo Reinsurance Opportunities’ ordinary shares was $1.0795, as at the close of business on 30 September 2017. The ordinary shareholders are exposed to potential losses arising from Hurricanes Harvey, Irma and Maria. They say that, whilst […]
K&C REIT struggles with high overheads and weak property market – K&C REIT, the high-end residential property fund, has announced results for the year ended 30 June 2017. Its NAV fell to 8.57p from 9.42p (-9.0%). The shares are trading at 7.5p. They point out that the residential sales market has slowed over the last year, […]
LXi REIT buys supported living portfolio – The Board of LXi REIT says that the company has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Greater London (50%), Devon (30%), Surrey (14%), Essex (4%) and Northampton (2%). The purchase price is GBP18.9 million, […]
Duke agrees new royalty finance for Lynx Equity – Duke Royalty Limited has entered into its second royalty financing agreement with Lynx Equity (U.K.) Limited (“Lynx UK”), the UK-based subsidiary of Lynx Equity Limited (“Lynx”). Duke has committed GBP 7.0 million, with an initial tranche of GBP 4.5 million to be drawn down immediately, with the additional […]
Qatar fund to become Gulf Investment Fund – Qatar Investment Fund intends to change its investment policy from a largely Qatar-focused investment strategy to a broader Gulf Cooperation Council (“GCC”) investment strategy. Currently, the investment policy enables it to invest up to 15% in GCC countries (namely Saudi Arabia, Kuwait, UAE, Oman and Bahrain) other than Qatar. The proposed […]
