PRS REIT has announced that chairman Steve Smith will step down at its forthcoming AGM, with Robert Naylor and Chris Mills joining the board. Following the announcement, the requisition notice has been withdrawn. The following changes have been agreed by the board: Steve Smith has offered and will step down at the AGM (due in […]
The board of Balanced Commercial Property Trust (BCPT) has recommended a cash offer for the company from Starwood Capital valuing the company at £673.5m. The cash offer, at 96p per BCPT share, represents a premium of 21.5% to its closing price of 79p per share as at 12 April – the last business day prior […]
SEGRO and Tritax EuroBox (EBOX) have announced that their boards have reached agreement on the terms of a recommended all-share offer by SEGRO for EBOX, under which EBOX shareholders will receive 0.0765 new SEGRO shares per EBOX share. Based on the closing price per SEGRO share of 880.0p as at 3 September 2024, the proposed […]
The board of PRS REIT (PRSR) has formed a sub-committee to engage with shareholders and lead its response to the requisition notice published last week calling for chairman Stephen Smith and director David Francis be replaced. The sub-committee comprises the three independent non-executive directors who are not the subject of the requisition, being: Geeta Nanda, […]
LondonMetric Property has acquired £70m of warehouses and sold £50m of non core assets. The £70m of acquisitions consist of seven warehouses with a WAULT of 15 years, acquired at a blended net initial yield of 5.8%, rising to a minimum of 6.1% over the next two years and 6.5% after five years, with 91% […]
Grit Real Estate Income Group, the pan-African real estate company, has provided an update on its non-core asset disposal strategy and progress made on transactions. The company has agreed non-binding heads of terms to sell the Tamassa resort, a Mauritian hospitality asset, at an implied net initial yield of 6.5%. It is also in preliminary discussions […]
In QuotedData’s morning briefing 23 August 2024: abrdn European Logistics Income (ASLI) posted a sharp fall in NAV due to the estimated costs of selling off its portfolio as part of the managed wind down of the trust. NAV over the quarter to 30 June was down 4.2% to 87.9 euro cents (GBP – 74.4p […]
Doric Nimrod Air Two (DNA2) has sold its five remaining Airbus aircraft to Emirates for $200m (153.5m). The company, which purchased seven Airbus A380-861 aircraft from October 2011 onwards and leased each for 12 years to Emirates, intends to distribute the sale proceeds to shareholders (together with the remaining cash holdings, net of any liquidation […]
In QuotedData’s morning briefing 21 August 2024: Temple Bar Investment Trust (TMPL) posted a NAV total return of 13.1% for the six month period to 30 June 2024, outperforming the FTSE All-Share Index of +7.4%, as market conditions for value investing improved. The share price total return was +11.0%. Particularly strong returns from portfolio companies […]
Assura has agreed a deal to acquire Northwest Healthcare Properties’ UK private hospital portfolio for £500m. To fund the deal for the 14 asset portfolio, the company plans to issue Northwest £100m in shares, refinance £266m of debt, draw down £80m from its revolving credit facility and use £54m of cash. Portfolio overview The portfolio […]
