Shaftesbury has announced that it has secured a new £130m term loan with Aviva Commercial Finance Limited for 15 years until March 2030.The loan is secured on certain properties held in a subsidiary company and has a fixed interest rate of 3.2% throughout the term. On drawing down the loan from Aviva, Shaftesbury is to […]
Burford Capital has, with its recent final results announcement for the year ended 31 December 2014, posted a 43% increase in its operating profit to $60.7m (2013: $42.5m). This represents a 17% return on equity. The company is also proposing a 34% increase in the dividend to 7.00c per share (2013: 5.23c). Burford saw a 35% increase […]
MirLand Development Corporation’s final results, for the year ended 31 December 2014, show an 18% increase in total revenues from investment properties. The company says this is due to both an increase in income from yielding assets as well as full consolidation of the Vernissage Mall in Yaroslavl. However, Mirland has also suffered a loss of $62.9m, during 2014, due to the […]
3i Infrastructure has announced an agreement to sell its stake in Eversholt Rail Group, to CK Investments S.A R.L., generating net proceeds of £358m. At 48.7%, this is a significant uplift on the 30 September 2014 valuation of £240.8m. The transaction is expected to close in March 2015. Eversholt is one of three leading rail stock companies in […]
Land Securities has announced the sale of ‘The Centre’ and the ‘Almondvale West Retail Park’ in Livingston to HSBC Alternative Investments for £224.1m. The sale reflects Land Securities strategy of refocusing its shopping centre portfolio on ‘dominant regional and Greater London assets’. ‘ The Centre’ is Scotland’s second-largest covered shopping and is home to over 160 retailers. ‘Almondvale West […]
Lyxor Focus, the LSE listed fund of hedge funds, has announced details of an EGM, scheduled for 30 December 2014, in which shareholders will consider a resolution to wind up the company. Assuming the resolution passes, it is intended that Lyxor’s listing on the LSE will also be cancelled with effect of the close of the market […]
Terra Catalyst Fund‘s sole remaining material holding is its 72.4% holding in Spazio Investments NV, an Italian registered Fund which invests in Italian property. This follows on from the sale of TCF’s holdings in the Tamar European Industrial Fund and Rugby estates earlier this year. Spazio is being held on TCF’s balance sheet at €6.43, unchanged […]
Summit Germany, the German commercial real estate company, has provided a trading update with a number of key developments. The first is that it has agreed terms to refinance €268m of its €309m debt facilities. This includes a new €240m, 7 year, 3.4% debt facility (the current loan is at 3.9%) which is expected to be in place by […]
Finsbury Growth & Income Trust, managed by Nick Train (pictured), has published its annual results for the year ended 30 September 3014, which confirm another year of outperformance relative to its FTSE All-Share Benchmark. FGT provided an NAV total return of 8.6%, comfortably ahead of the benchmark’s 6.1%. A second interim dividend of 6.2p has been […]
ELTA : A good year for Electra Electra Private Equity, chaired by Roger Yates (pictured) has had an eventful but nonetheless successful year. An approach by Sherborne Investors, which was ultimately defeated at an EGM at the beginning of October, may have been a distraction but, despite this, Electra has provided a return of 15% on its diluted NAV […]
