In QuotedData’s morning briefing 24 May 2022: Alina Holdings says that due to “the recent collapse in Global Equity Markets, and the board’s relatively bleak economic outlook with the potential for ‘Stagflation’, leading to further stock market declines” it intends to undertake an accelerated strategic review, including the potential sale of the company or liquidation […]
London office landlord and developer Great Portland Estates says it expects positive rental growth over the next year as the supply of new offices are choked off by weaker sentiment and cost inflation. This coupled with a continued “flight to quality” offices by occupiers gives cause for a positive outlook, with the company giving a […]
Regional REIT has acquired three offices in Derby, Milton Keynes and Crawley for a total of £48.2m, reflecting a blended net initial yield of 8.7%. The assets It has acquired Orbis 1-3, Derby (totalling 122,153 sq ft) for £19.8m, and a 8.6% yield. It is located on a 7.54-acre site on the Pride Park business park. […]
British Land delivered a NAV total return for the year to March 2022 of 15.6% as the value of its portfolio continues to recover from the pandemic lows. The company’s EPRA Net Tangible Assets (NTA) was up 12.2% to 727p, while it paid dividends during the year totalling 21.92p. Its portfolio valuation rebounded 6.8% on […]
Life Science REIT has completed the acquisition of Oxford Technology Park, a 20-acre science and technology park, for £120.3m. The acquisition includes the park’s debt of £33.8m and the company will also provide up to £62.7m of forward funding to complete the park’s build-out which, once fully developed, will comprise up to 450,000 sq ft […]
Home REIT hopes to raise £150m in a new placing of shares as it looks to grow its portfolio of homeless accommodation. The placing price of 115p represents a discount of 5.7% to the closing price of 122p on Friday 13 May 2022 and a 4.7% premium to the 28 February 2022 NAV of 111.2p […]
UK Commercial Property REIT (UKCM) has acquired a hotel development opportunity in Leeds for £62.7m from Marrico (Sovereign Square) Ltd, a joint venture between Marrico LLP and Helios. The group will fund the development of the 305-room hotel, which will be completed by Marrico. The 12-storey hotel is scheduled to complete in 2024 and will […]
Land Securities has agreed a deal to sell 32-50 Strand, in London, for £195m, representing a net initial yield of 4.2% to Sinarmas Land Limited, a real estate company listed on the Singapore Exchange. The disposal is in line with Landsec’s strategy to recycle capital into higher return opportunities, and is expected to complete in June 2022. […]
CLS Holdings, the FTSE 250 office landlord with a £2.3bn portfolio in the UK, Germany and France, has proposed a tender offer of its shares due to its persistent and unjustified share price discount to net tangible assets. Subject to the discount persisting, CLS said that it intends to undertake a tender offer of its […]
LXI REIT and Secure Income REIT have agreed terms on a merger that would see LXI acquire the entire share capital of Secure Income. Under the terms of the merger, each Secure Income shareholder will receive 3.32 new LXI shares per one Secure Income share. The deal would see the combined company have net assets […]
