Supermarket Income REIT has continued its acquisition push following its recent equity raise with the purchase of two supermarkets – a Sainsbury’s in Washington, Tyne and Wear, and an Asda in Cwmbran, South Wales – for £55.1m, reflecting a combined net initial yield of 5.3%. The company has also announced an increase to its revolving […]
UK Commercial Property REIT has continued to strengthen its industrial and logistics portfolio with the £94m acquisition of Precision Park in Leamington Spa, Warwick, which includes a government-let ‘Megalabs’, aimed at increasing the UK’s daily testing capacity for COVID-19. Precision Park comprises two distribution units extending to over 380,000 sq ft, a 65,442 sq ft […]
LondonMetric Property has acquired Savills IM UK Income and Growth Fund in a corporate transaction for £122.2m, reflecting a blended yield on cost of 4.3% and an anticipated reversionary yield of 4.9%. The fund owns a portfolio of 15 assets across 482,000 sq ft with 75% in urban logistics and the remainder comprising long income […]
Urban Logistics REIT has bought four assets for £28.6m, as it begins to deploy the proceeds from its recent £250m equity raise. The acquisition price reflects an average net initial yield (NIY) of 5.82%. Three of the assets are income producing, while the fourth is a forward funding development project. The assets Elland Road, Leicester […]
Grit Real Estate, the pan-African real estate company, has raised $156.7m through an open offer and placing. Part of the proceeds, $80.6m, was made through the issue of 155,027,444 new ordinary shares to the shareholders of development company Gateway Real Estate Africa Limited (GREA) and its asset manager Africa Property Development Management Limited (APDM) as […]
LXi REIT (LXI) has acquired a Sainsbury’s supermarket in Middlesbrough for £58.9m. The purchase of the asset will be satisfied through the issue of just over 35.7m new shares in the company at 145p and a further £7m in cash. The seller, Laxmi Nivaria, is an existing long-term shareholder of the company and has agreed […]
Hammerson has continued its non-core asset sell off with the disposal of six properties for £92m. The group said the sales were in line with its strategy of reducing debt, simplifying the portfolio and generating capital for redeployment. It has exchanged contracts to sell its 50% stake in Silverburn, a 100,000 sqm shopping centre near Glasgow, […]
Aberdeen Standard European Logistics Income (ASLI) has acquired a portfolio of ‘last mile’ urban logistics assets in Madrid for €227m, fully deploying the proceeds of its recent equity raise. The portfolio consists of four phases, with phases one to three comprising seven newly constructed logistics warehouses and phase four comprising one under construction logistics warehouse […]
Schroder European REIT has reported a NAV total return of 3.2% for the year to 30 September 2021. The group’s NAV was down 1.1% to 149.2 euro cents per share, due to a write down in the valuation of a shopping centre asset in Saville. The group paid a dividend of 7.12 euro cents and […]
Tritax EuroBox has posted a 10.7% uplift in EPRA net tangible assets (NTA) in full year results to 30 September 2021. The group’s EPRA NTA was €1.31 compared to €1.22 last year. The growth was mainly due to an increase in the value of its portfolio of 11.9% on a like-for-like basis, and more than […]
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