DX Group Plc has reached an agreement with the administrator of Tuffnells over the running of its UK logistics sites. Urban Logistics REIT (SHED) has 12 sites let to Tuffnells, which fell into administration earlier this month. Nine of the 12 leases, which in total account for 3.3% of SHED’s income, will eventually be transferred […]
QuotedData’s morning briefing 30 June 2023: CLS Holdings (CLI) has secured a 30-year lease with the City of Essen at it office scheme The Brix, in Essen. The City of Essen will take 17,400 sqm (187,292 sq ft) of space, with the lease benefiting from indexation. CLS will spend €20m over the next three years […]
CK Assets has received enough support from shareholders for its 80p bid for Civitas Social Housing and the offer has now become unconditional. Just over 64% of Civitas shareholders (including CK Assets’ 17% holding) accepted the bid, which was made on 9 May and was a 27% discount to net asset value (NAV) but a […]
Urban Logistics REIT has reported a strong operational performance in annual results to 31 March 2023, with net rental income up 45%. However, EPRA net tangible assets (NTA) was down 14.0% to 162.44p, reflecting the outward movement in investment yields in the real estate sector in the high interest rate environment. The group’s portfolio was […]
Schroder REIT increased its dividend by 14% last year on the back of strong operational performance. Estimated rental growth (ERV) on the diversified portfolio (which is skewed towards industrial assets) was up 9.2% in its financial year to 31 March 2023, while EPRA earnings was up to 3.3p per share. This fully covered the dividend […]
LXI REIT has reported its first results since its merger with Secure Income REIT, showing “material cost savings” feeding through to earnings growth. EPRA earnings per share (EPS) was up 36.1% to 8.3p (31 March 2022: 6.1p), while adjusted cash EPS was up 17.5% to 6.7p for the year (31 March 2022: 5.7p). This fully […]
NewRiver REIT’s new strategy focused on ‘resilient retail’, mainly retail park assets with essential goods and services retail tenants, is starting to pay off with the company reporting strong operational performance in annual results to 31 March 2023. The group posted a 26% increase in underlying funds from operations (UFFO) to £25.8m, with UFFO per […]
Warehouse REIT has reported a 29.5% drop in EPRA NTA to 122.6p per share in annual results to the end of March 2023, reflecting the outward movement in yields in line with the rise in interest rates. The group’s portfolio valuation fell 18.5% to £828.8m (2022: £1,012.0m) on a like-for-like basis following a 131 basis […]
Berlin residential landlord Phoenix Spree Deutschland (PSDL) has proposed a change to the fee structure for its property advisor, capping its annual fee at €5m. The company’s core rental business remains strong, but it had to suspend its dividend earlier this year as this was paid out of proceeds from condominium sales (which have been […]
Impact Healthcare REIT (IHR) has transferred the leases of care homes let to Silverline Group, which has not paid its rent due for the first two quarters of this year, to an affiliate of an existing tenant of the company. IHR has transferred the leases of Silverline, which let seven homes and accounted for 3.4% […]
