Industrials REIT is the subject of a £500m possible cash offer from US private equity giant Blackstone – 42.4% above its closing price on Friday. The company announced today that, following a period of extensive negotiations, it had reached agreement with Blackstone on the key financial terms of a final proposal for a possible cash […]
Phoenix Spree Deutschland has suspended its dividend and has not paid a final dividend for the year to 31 December 2022 as the residential sales market in Berlin dries up following the hike in interest rates. As per its business model, cash to pay dividends is substantially dependent on condominium and/or other asset sales. Just […]
Impact Healthcare REIT has posted strong results as inflation-linked leases negate the impact of rising interest rates. The care home provider reported a 2.0% drop in NAV to 110.17p per share. Its property portfolio was valued at £568.8m as at 31 December 2022, up 14.3% in the year due to acquisitions. The change in fair […]
Regional REIT saw its net asset value fall 24.4% in annual results to 31 December 2022, primarily as a consequence of rising interest rates affecting valuations in the property sector. The group’s EPRA net tangible assets (NTA) was 73.5p per share at the end of the year, compared to 97.2p a year prior. This was […]
Life Science REIT has reported a 8.9% fall in net asset value (NAV) in maiden annual results. Rising interest rates in the second half of the year and property acquisition costs (as it invested its IPO proceedings) resulted in a 7.5% drop in the value of its portfolio on book value to £387.6m. An outward […]
The board of Dolphin Capital Investors has terminated the Investment Management Agreement (IMA) between the company and Dolphin Capital Partners (DCP) with immediate effect. It says that DCP “entered into an undisclosed option agreement with the purchaser of the Amanzoe resort in Porto Heli, Greece at the same time that the company sold its interest […]
Empiric Student Property has posted a 8.2% uplift in EPRA net tangible assets (NTA) in annual results to the end of 2022. The student accommodation specialist said EPRA NTA was 115.4p at the end of the year, up from 106.7p. This was in part due to a 7.3% like-for-like increase in the value of its […]
Home REIT’s board is considering candidates to become investment adviser of the company, as it continues to consider all options for its future. It said that discussions had commenced with a number of candidates to take over from Alvarium Home REIT Advisors Limited. The board is also considering selling some or all of its assets […]
The board of Ediston Property Investment Company (EPIC) has launched a strategic review into the future of the company that could result in it being merged with another REIT or sold. The company, like many other REITs, has been battling a persistent wide discount to net asset value (NAV), which has severely impacted its ability […]
Supermarket Income REIT has exchanged contracts for the sale of its interest in a portfolio of Sainsbury’s let supermarkets to Sainsbury’s for a total of £430.9m. As previously announced, Sainsbury’s has acquired 21 of the 26 stores in the Sainsbury’s Reversion Portfolio (SRP), concluding the contractual unwind of the SRP Portfolio structure. The transaction is expected […]
