Abrdn European Logistics Income (ASLI) has launched a placing under its share issuance programme to fund its near-term €142m pipeline of investments. The group, which has recently deployed the £125m it raised in September 2021 on the acquisition of a logistics portfolio in Madrid, said the placing price will be 110 pence per share, a […]
LondonMetric Property has acquired a long let cold storage and logistics warehouse development for £53.4m. The 300,000 sq ft building is pre-let on a 25 year lease to AM FRESH GROUP, an international agri-tech company that supplies the majority of UK supermarkets with a range of items including fruits, plant-based fresh goods and flowers. The rent […]
With the rise in the cost of living dominating investment thoughts for 2022, what will be the likely impact on consumer spending habits and the funds that could benefit? Energy bills soaring and inflation at 5.1%, combined with a tax hike this year, means less money in the pocket and less spend at the tills. […]
Irish Residential Properties REIT (IRES) has acquired 152 residential units in Dublin for €66m, which will be funded from existing credit facilities. The acquisitions include completed apartments as well as a forward commitment to purchase a new development currently under construction in Ashbrook, Clontarf, Dublin 3. Completed apartments (108 apartments) The company has exchanged contracts to […]
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 […]
