In QuotedData’s morning briefing 19 April 2024: Home REIT (HOME) has sold a further 65 properties at auction for a total of £15.9m, representing 4.8% of the company’s portfolio by value and in line with the August 2023 draft valuation. Since August 2023, the company has completed on the sale of 533 properties and exchanged on a […]
Urban Logistics REIT reported an average rental uplift of 23% on leases signed in the first quarter of this year as occupational activity returns. The company completed three new lettings (including one at a vacant asset) and three rent reviews in the period, covering 374,000 sq ft of space. This totalled £1.3m in new annualised […]
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 […]
