LXI REIT has renegotiated the leases of the 122 Travelodge hotels, extending the weighted average lease length by a further nine years. The portfolio of hotels was acquired by LXI as part of the Secure Income REIT merger. In return for the nine year extensions (which extends the weighted average unexpired lease term to first […]
Ediston Property Investment Company, which invests in retails parks in the UK, has reported a 5.9% increase in NAV in annual results to 30 September 2022. Its EPRA NAV per share is now 94.9p (2021: 89.6p), the uplift driven by a 10.3% portfolio valuation gain in the year to £231.4m. The increase was due falling […]
abrdn Property Income Trust has refinanced its debt again, taking a £3.56m hit to lower the interest rate cap. The company announced on 12 October 2022 (at the height of bond market volatility following the min-budget) that the trust had completed an extension of its debt facilities that were due to expire in April 2023 […]
Home REIT says that it will strengthen its management team and bring in independent pre-purchase valuers as part of several changes to “maintain and enhance shareholder confidence” following a number of allegations in recent weeks. The company will also beef up its board with the appointment of a new non-executive director and hire the services […]
Home REIT has come under more fire today, as law firm Harcus Parker launches a litigation claim alleging that shareholders were misled by information they were provided by the company and its associates. The collective action is seeking compensation for retail investors “in relation to significant losses on their investments”. Harcus Parker claims that while […]
The board of directors of Home REIT is facing a call to step down by activist investor Boatman Capital Research after it accused the company of being “over-optimistic in its assumptions” on the value of its portfolio. In an open letter to Home REIT senior independent director Simon Moore, Boatman Capital Research claims that the social […]
Schroder European REIT posted a NAV total return of 7.3% in the year to 30 September 2022, as shareholders reaped the rewards of exceptional asset management profits achieved from the repositioning of its office in Paris Boulogne-Billancourt. NAV was 140.8 cents per share (down from 149.2 cents) reflecting the payment of the special dividend (totalling […]
Tritax EuroBox has posted a NAV total return of 5.9% for the year to 30 September 2022. The company, which invests in European logistics properties, saw its EPRA net tangible assest (NTA) increase 2.2% to €1.38, due to a 5.6% like-for-like uplift in the value of its portfolio, which is now worth €1,765.6m following acquisitions. […]
AEW UK REIT has acquired two properties for a combined £18.3m. It has unconditionally exchanged on the purchase of a 67,020 sq ft mixed-use block located in Bath city centre at a price of £13m, reflecting a net initial yield of 8.5%. It expects to complete the deal next week. In a separate transaction, the company […]
Home REIT has responded to short seller allegations last week that saw its share price fall more than 20%. The company said it was “completely confident in the integrity of the business it is operating, its financial soundness and the beneficial impact the Company is having in reducing homelessness in the UK”. Allegation 1 In […]
