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 […]
The Boards of Tritax Big Box REIT (BBOX) and UK Commercial Property REIT (UKCM) have reached agreement on the terms of a recommended all-share merger. Under the terms, each UKCM shareholder will be entitled to receive 0.444 new BBOX shares for each UKCM share. The exchange ratio is on an EPRA NTA for EPRA NTA […]
Urban Logistics REIT has announced that it will not proceed with an offer for abrdn Property Income Trust. The company had made a merger proposal to the company’s board in February, rivalling a merger bid by Custodian Property Income REIT, and in March set out the terms of an alternative proposal that would see it […]
abrdn Property Income Trust (API) has sold two assets for a combined £16.55m, reflecting a very slight discount of 0.3% to their 31 December 2023 valuations. The sales cast doubt on the merits of Custodian Property Income REIT’s (CREI’s) merger proposal, which as it stands values API at a 28.2% discount to NAV. API’s board […]
Property development company Harworth Group posted a 4.4% uplift in EPRA net disposal value (NDV) to 205.1p per share in annual results to 31 December 2023. With dividends, which were up 10% to 1.466p, the company delivered a NAV total return of 5.1% for the year. The increase was driven by the unlocking of development […]
British Land has sold a 50% stake in its 1 Triton Square, in London’s Regent’s Place, to Royal London Asset Management Property for £192.5m. This is the building that Meta (Facebook) surrendered its lease on last year, paying British Land £142m in order to walk away from its lease agreement. The combined impact of the […]
Urban Logistics REIT has outlined details of an alternative proposal for abrdn Property Income Trust (API), that it says provides a better deal for API shareholders than the current Custodian Property Income REIT (CREI) bid. The proposal involves the acquisition by Urban Logistics of API’s logistics and retail warehouse assets (portfolio 1 – 66% of […]
Empiric Student Property has delivered a strong set of results with earnings growth of 17.6% and a net asset value (NAV) uplift of 4.6%. The company’s EPRA earnings per share jumped to 4.0p (from 3.4p) in the year to 31 December 2023, allowing it to increase its dividend by 27% to 3.5p. Revenue was up […]
The board of abrdn Property Income Trust (API) has said it would not recommend the Urban Logistics REIT (SHED) proposed bid or new proposal (see details below) for the company on the current terms, reaffirming its recommendation of the Custodian Property Income REIT (CREI) bid. SHED has until the close of play on Friday (15 […]
In QuotedData’s morning briefing 12 March 2024: Regional REIT (RGL) says that it is exploring a possible equity capital raise of around £75m through a rights issue that would be at a material discount to the current share price. The company adds that the rights issue is one of a range of refinancing options it is […]
