abrdn Property Income Trust (API) has entered into an agreement to sell its entire share capital to funds managed by GoldenTree Asset Management for £351m. The transaction comprises the sale of 39 assets (the company’s entire investment property portfolio, with the exception of its interest in the land at Far Ralia). API’s debt facility with […]
abrdn Property Income Trust (API) has confirmed that it is in advanced discussions to sell its entire portfolio to funds managed by GoldenTree Asset Management. News of the sale was first reported by CoStar, which said that the price agreed for the portfolio was around £350m. This would be at a discount of 13.7% to […]
In QuotedData’s morning briefing 24 September 2024: The boards of NewRiver REIT (NRR) and Capital & Regional (CAL) have reached agreement on the terms of a deal that would see NRR acquire CAL and are recommending shareholders of both companies to vote in favour of it. The deal would see each CAL share receive 31.25p […]
NewRiver REIT has made a cash and share offer to acquire Capital & Regional for £147m. Under the terms of the offer, Capital & Regional shareholders would be entitled to receive 31.25p in cash and 0.41946 NewRiver shares. On the basis of the closing price per NewRiver share of 74.5 pence on 22 May 2024 […]
Supermarket Income REIT (SUPR) said that property values stabilised over the first half of 2024, however falls in 2023 contributed to a decline in EPRA net tangible assets (NTA) of 6.3% in annual results to 30 June 2024. The value of its portfolio of omnichannel supermarkets fell on a like-for-like basis by 3.2% over the […]
In QuotedData’s morning briefing on 18 September 2024: SEGRO (SGRO) announced the pricing of a €500m senior unsecured bond issue for an eight-year term priced at 123 basis points above euro mid-swaps with an annual coupon of 3.5%. The bond issuance was over six times subscribed at peak. The proceeds of the issue will principally […]
Urban Logistics REIT has refinanced £151m of debt and deployed some of the proceeds into the acquisition of four assets. The company has refinanced its existing £100m term loan and £51m revolving credit facility (which was due to mature in August 2025) with a £140m term loan and a £50 million revolving credit facility. The […]
Target Healthcare REIT posted an impressive NAV total return of 11.8% in annual results for the year ended 30 June 2024. The care home landlord reported an EPRA net tangible assets (NTA) uplift of 5.9% over the year to 110.7p per share. This was mainly due to a 4.6% increase in the value of its 94-home […]
Having taken a combination of macroeconomic blows over the last few years that sent the real estate market to the canvas, the sector appears set to stage a recovery. In true Rocky style, property seems to have beaten the 10 count and is back in the fight. There is always the threat of a knockout […]
PRS REIT has announced that chairman Steve Smith will step down at its forthcoming AGM, with Robert Naylor and Chris Mills joining the board. Following the announcement, the requisition notice has been withdrawn. The following changes have been agreed by the board: Steve Smith has offered and will step down at the AGM (due in […]
