Assura Group, the healthcare property investor, has entered a £250m joint venture with Universities Superannuation Scheme (USS) to invest in NHS infrastructure. The JV (which is split 80:20 in favour of USS – the principal pension scheme for universities and higher education institutions in the UK) will be seeded with an initial portfolio of seven […]
abrdn European Logistics Income (ASLI) has announced that it will undergo a managed wind down. Ahead of a continuation vote this year, the board launched the strategic review into the future of the company in November 2023, with the fund suffering from a wide discount to NAV and a materially uncovered dividend. The company received […]
British Land has exchanged contracts to sell its 50% stake in the Meadowhall Shopping Centre to its joint venture partner Norges Bank Investment Management for £360m. The sale was in line with the company’s strategy to focus on retail parks and reduce exposure to shopping centres. The sales price, which values the whole site (including […]
Land Securities reported an 8.2% reduction in EPRA net tangible assets (NTA) per share to 859p in annual results to 31 March 2024, as the impact of higher interest rates weighed on property valuations. The group’s portfolio fell 6.0% in the year, which was weighted to the first half of the year. The company said […]
Tritax EuroBox reported a fall in EPRA net tangible assets (NTA) in half year results, as the impact of sector-wide outward yield shift continues. The company’s portfolio valuation fell 2.9% on a like-for-like basis to €1,464.8m, contributing to a 5.9% drop in EPRA NTA to €0.96. Adjusted earnings per share was down 3.0% to 2.62 […]
Tritax EuroBox has agreed a lease re-gear, a new lease and associated solar PV Power Purchase Agreement (PPA) at Logistics Park Bornem, Belgium. The re-gear and new lease are both eight-year, inflation-linked leases and have been signed, together with the PPA, with an existing customer, which is a leading global pharmaceutical and medtech company. The […]
Tritax EuroBox has exchanged contracts to sell its warehouse asset in Gothenburg, Sweden for a price of SEK 385m (€34m) to a pan-European real estate investment manager. The sale price is broadly in line with book value (at 30 September 2023) and is part of the company’s disposal programme aimed at reducing leverage. The 28,900 sqm […]
Unite Students (UTG) has sold six properties to PGIM Real Estate for £184m (UTG share: £76m), as it continues to focus on student accommodation close to highly ranked universities. The properties, comprising 2,948 beds, are located in Birmingham, Cardiff, Leicester, Liverpool, Nottingham and Sheffield and have an average age of 18 years. 53% of UTG’s […]
In QuotedData’s morning briefing 10 May 2024: Home REIT (HOME) has sold a further 76 properties at a public auction for a total of £14.6m (12.4% below the draft August 2023 valuation – which was already heavily marked down from the price the company bought them for). Since August 2023, the company has completed on the sale […]
Land Securities has completed the sale of its entire hotel portfolio to real estate funds managed by Ares Management for £400m. This compares to a September 2023 book value of the assets of £404m. The disposal is in line with Landsec’s strategy to release capital from sectors in which the company does not have scale […]
