Phoenix Spree Deutschland has commenced a realisation programme that will see it sell down its portfolio of Berlin residential assets and return capital to shareholders. It plans to achieve this by accelerating its individual condominium sales programme, where it has accomplished large premiums to book value. The company is targeting annual sales of €50m from […]
AEW UK REIT has sold part of the Central Six Retail Park, in Coventry, for £26.25m, reflecting a net initial yield of 7.49% The sale price for units 1-11 of the park represents a 60% premium to the purchase price of the entire property, which was acquired in November 2021 for £16.411m and a 6.7% […]
Schroder European REIT annual results to illustrate the improving conditions in the real estate sector, with the second half of its financial year (the six months to 30 September 2024) displaying signs of stability. The company’s NAV fell 4.3% to 122.7 euro cents per share, with the decline primarily driven by outward yield movement in […]
Alpha Real Trust, the real estate debt specialist, has proposed delisting its shares from the Specialist Fund Segment and offering shareholders a tender offer at NAV. The company is majority owned by Alpha Global Property Securities Fund Pte. Limited and persons acting in concert with Alpha Global, which together own 88% of shares in the […]
Home REIT has received a tender offer from Southey Capital Ltd for its shares at 4p each, valuing the company at around £32m. Southey said that the offer provides shareholders with an opportunity to realise liquidity before a full de-listing. The board of Home REIT said that it was not contacted by Southey ahead of […]
The takeover of Spanish REIT Lar Espana was approved by the National Securities Market Commission (CNMV) yesterday, paving the way for the deal to go through. The offer by Helios Real Estate, a consortium made up of Hines and Grupo Lar, at €8.30 values the company at just under €695m. [We published a research note […]
In QuotedData’s morning briefing 26 November 2024: LondonMetric Property (LMP) reported a 2.1% uplift in EPRA net tangible assets (NTA) to 195.7p per share over the six months to 30 September 2024. The company’s portfolio of predominantly urban logistics and long-income assets was up 1.1% to £6.2bn. Net rental income increased 154% to £193.1m, while […]
Supermarket Income REIT has acquired a Sainsbury’s omnichannel supermarket in Huddersfield, West Yorkshire, for £49.7m, reflecting a net initial yield of 7.6%. The property, which the company said is a top quartile performing food store, comprises a 113,348 sq ft gross internal area omnichannel supermarket and a petrol filling station and is located on […]
SEGRO has agreed a deal with Brookfield (which is in the process of acquiring Tritax EuroBox) to purchase six properties from the EuroBox portfolio in Germany and the Netherlands for a total of €470m. The deal is conditional on Brookfield’s offer for EuroBox completing (shareholders will vote on it on 20 November) and the value […]
Urban Logistics REIT (SHED) has taken a step closer to full dividend cover, as adjusted earnings jumped 3.2% in the six months to 30 September 2024 (click here to read our analysis of the results). Adjusted earnings per share for the period were 3.57p (7.14p on an annualised basis), bringing coverage of its 7.6p annual […]
