Sirius Real Estate, the German business park owner, has completed the acquisition of a 8,800 sqm mixed-use business park in Fellbach, near Stuttgart, for €9.2m, reflecting an EPRA net initial yield of 6.0%. The asset is located adjacent to a business park already owned by Sirius, with the acquisition creating an enlarged business park comprising over 36,000 […]
Warehouse REIT, the multi-let industrial specialist, has acquired an asset at Glasgow Airport Business Park for £5.3m, reflecting a net initial yield of 6.3%. The asset, which comprises three units totalling 55,600 sq ft, is occupied by two global transport companies and a craft beer distributor. It generates an annual income of £357,000, equating to […]
The listed property sector is ripe for merger and acquisition (M&A) activity with many real estate investment trusts (REITs) still trading at significant discounts to net asset value (NAV). Today we saw RDI REIT the subject of a £467.9m takeover bid by Starwood Capital at a price offering a huge premium to its share price, […]
RDI REIT has announced an agreement on the terms of a £467.9m cash offer for the company by Starwood. Starwood already owns 29.59% of the company and has made an offer of 121.35p for the remaining shares. This price presents a premium of 33.1% to last night’s closing price of 91.2p and a 38.2% premium […]
Shaftesbury collected just 36% of rent due in the first month of 2021 as the lockdown meant the majority of its portfolio was shuttered. The group, which owns a 16-acre portfolio in the heart of London’s West End – including Carnaby Street, Covent Garden and Chinatown, said it had received £3.5m of the £9.8m billed […]
Aberdeen Standard European Logistics Income (ASLI) has reported a 6.6% increase in net asset value (NAV) for the quarter to the end of December 2020. The growth in NAV, to 120.1€c per share (107.9p) from 112.7€c (102.9p) in September 2020, was mainly due to a 6.0% increase in the value of its property portfolio. [QD […]
The proposed €200m (£173m) equity raise by Tritax EuroBox should be enthusiastically received by investors. The group recognises that now is the time to be growing in the burgeoning European logistics sector, with structural tailwinds well and truly in its favour. Like in the UK, online retailing was already rising in Europe before the pandemic, but […]
Tritax EuroBox, the European logistics investor, has proposed an equity raise of £173m (€200m) as it looks to expand its portfolio in the burgeoning property sector. The group will use the proceeds, together with existing cash (from the €65.5m sale of a Polish asset last week) and new debt, to acquire a near term pipeline […]
Supermarket Income REIT has acquired a further stake in a 26-strong Sainsbury’s portfolio. The group, in a joint venture partnership with BA Pension fund, bought a 25.5% stake in the Sainsbury’s portfolio last year from British Land, and has today acquired a further 25.5% stake from Aviva Investors for £115m. Following this second acquisition, the […]
Supermarket Income REIT has acquired its first Northern Ireland asset with the purchase of a Sainsbury’s supermarket in Bangor for £24.8m. The price for the 10-acre site, which also includes a Homebase unit, reflects a net initial yield of 6.6%. Developed in 2011, the site comprises a 44,000 sq ft net sales area supermarket with 650 […]
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