British Land raised £301m in a placing, retail offer and subscription and will use the proceeds to part fund the acquisition of a portfolio of retail parks for £441m. In aggregate 71,227,309 new ordinary shares were placed at a price of 422 pence, which represents a discount of 3.6% to the closing price on 2 […]
The board of Residential Secure Income is proposing a managed wind-down of the company following a review of options for maximising shareholder value. The company’s persistent and material share price discount to NAV and its small market cap of around £101m (which it said may be a deterrent to some potential investors due to lower […]
Alternative Income REIT (AIRE) has posted a 3.9% drop in net asset value (NAV) to 80.9p in annual results to 30 June 2024. The fall was primarily due to an outward yield movement in its property portfolio that resulted in a 4.0% reduction in the portfolio value to £102.7m. NAV total return was 3.5%, while […]
The board of Triple Point Social Housing REIT has announced the appointment of Atrato Partners as the company’s new investment manager, replacing Triple Point. A review of the investment management arrangements was launched by the board earlier this year, and it has now decided to part ways with Triple Point. Atrato, which also manages Supermarket […]
abrdn Property Income Trust (API) has entered into an agreement to sell its entire share capital to funds managed by GoldenTree Asset Management for £351m. The transaction comprises the sale of 39 assets (the company’s entire investment property portfolio, with the exception of its interest in the land at Far Ralia). API’s debt facility with […]
abrdn Property Income Trust (API) has confirmed that it is in advanced discussions to sell its entire portfolio to funds managed by GoldenTree Asset Management. News of the sale was first reported by CoStar, which said that the price agreed for the portfolio was around £350m. This would be at a discount of 13.7% to […]
In QuotedData’s morning briefing 24 September 2024: The boards of NewRiver REIT (NRR) and Capital & Regional (CAL) have reached agreement on the terms of a deal that would see NRR acquire CAL and are recommending shareholders of both companies to vote in favour of it. The deal would see each CAL share receive 31.25p […]
NewRiver REIT has made a cash and share offer to acquire Capital & Regional for £147m. Under the terms of the offer, Capital & Regional shareholders would be entitled to receive 31.25p in cash and 0.41946 NewRiver shares. On the basis of the closing price per NewRiver share of 74.5 pence on 22 May 2024 […]
Supermarket Income REIT (SUPR) said that property values stabilised over the first half of 2024, however falls in 2023 contributed to a decline in EPRA net tangible assets (NTA) of 6.3% in annual results to 30 June 2024. The value of its portfolio of omnichannel supermarkets fell on a like-for-like basis by 3.2% over the […]
In QuotedData’s morning briefing on 18 September 2024: SEGRO (SGRO) announced the pricing of a €500m senior unsecured bond issue for an eight-year term priced at 123 basis points above euro mid-swaps with an annual coupon of 3.5%. The bond issuance was over six times subscribed at peak. The proceeds of the issue will principally […]
