The board of Balanced Commercial Property Trust (BCPT) has launched a strategic review into the future of the company, with all options – including a sale, merger, or continuing as is – on the table. The move comes as the company approaches a continuation vote later this year. The board pointed out that the company […]
The board of Lok’n Store has agreed the terms of a recommended cash offer from Shurgard to acquire the company. Under the terms of the acquisition, Lok’n Store shareholders will be entitled to receive 1,110 pence in cash for each share, valuing the company at £378m. This represents a premium of: 15.9% to the closing […]
It has been interesting to watch the different merger and acquisition (M&A) activity play out in the real estate sector – and the different boards’ approaches to it. Last week, the proposed deal, that would have seen abrdn Property Income Trust (API) swallowed by Custodian Property Income REIT, collapsed after it failed to get the […]
The proposed and recommended merger of abrdn Property Income Trust (API) and Custodian Property Income REIT (CREI) is off after not receiving enough support from shareholders. Just over 60% of votes cast were in favour of the merger, below the 75% threshold to sanction the deal. The API board will now take steps to implement […]
Sirius Real Estate has acquired Vantage Point Business Village, a multi-let business park in Gloucestershire, for £48.25m (€56.4m), representing a net initial yield at acquisition of 10.2%. The acquisition was made using the proceeds of the company’s £147m capital raise in November 2023. The company has bought four assets so far this year, following the […]
In QuotedData’s morning briefing 27 March 2024: Life Science REIT (LABS) has leased 7,497 sq ft of space at the Innovation Quarter at Oxford Technology Park to Coldquanta UK Limited, which is part of Infleqtion, a global quantum technology company. The lease will complete once the laboratory fitout works are complete. ColdQuanta will pay an […]
Life Science REIT has rebased its dividend as the macroeconomic environment remains challenging. The company paid a dividend of 4p in 2022 – its first full year, but has reduced this to 2p for 2023. The company said: “With macroeconomic uncertainty continuing and interest rates now expected to remain elevated for some time, the board […]
Regional REIT reported a particularly difficult 2023 with several headwinds contributing to a 23.3% drop in net asset value (NAV) to 56.4p per share. The office landlord’s portfolio valuation fell 9.3% on a like-for-like basis to £700.7m, as high interest rates impacted on the portfolio yield. Rent roll for the year was also down, from […]
Impact Healthcare REIT reported net asset value (NAV) uplift of 4.7% to 115.38p per share in annual results to 31 December 2023. The care home landlord’s portfolio grew in value by 4.1% over the year helped by strong rental growth. With a net increase of five homes taking the total portfolio to 140 properties and […]
Supermarket Income REIT’s manager has made amendments to its investment advisory agreement to protect itself in the event of a takeover. In the event of a takeover, delisting or liquidation, Atrato Capital would be paid fees that would have been due over the existing rolling two-year written notice period. We have not heard any rumours […]
