Sirius Real Estate, the German business park owner and operator, has acquired four assets and one land parcel for €84.8m. The business parks are located in Oberhausen, Frankfurt, Heiligenhaus and Öhringen and provide over 150,000 sqm of lettable space. In addition, the company has acquired a land parcel adjacent to its existing asset in Neuruppin. […]
LondonMetric Property has exchanged to sell its Primark-let distribution warehouse in Thrapston, Northamptonshire, to EQT Exeter for £102.0m, reflecting a net initial yield of 4.1%. The group acquired the property in 2013 for £60.5m, at a net initial yield of 6.4%, and since acquisition, the property has delivered a total return of 123% and an […]
The bumper spell of merger and acquisition (M&A) activity in the UK listed real estate sector has some way to play out yet, with several companies still looking like attractive targets. The share prices of many property companies have yet to return to pre-pandemic days – perhaps understandably when rent collection rates are still below […]
The potential offer for Drum Income Plus REIT (DRIP) by Custodian REIT (CREI), which we think makes perfect sense for both sides (see our news story for more detail) got us looking into the wider UK commercial property peer group to see how are they faring now as the country transitions out of lockdown. The […]
Civitas Social Housing is considering an equity raise to fund its acquisition pipeline and enhance returns. The group said uncommitted capital resources were limited so it would evaluate options, including a potential equity raise, to fund new acquisitions. An £85m M&G debt facility, agreed earlier this year, has been invested or reserved for existing pipeline […]
Standard Life Investments Property Income Trust (SLI) has reported a 3.5% jump in net asset value (NAV) in the quarter to 30 June 2021, as the property market continues to bounce back from the impact of COVID. The increased in NAV, to 88.3p per share, was due to a 3.3% like-for-like rise in the value […]
Custodian REIT (CREI) is in discussion over a possible securities exchange offer for the entire issued share capital of Drum Income Plus REIT (DRIP). The possible offer is at a ratio of 0.535 CREI ordinary shares for each DRIP ordinary share, giving an implied value for the entire issued and to be issued share capital of DRIP […]
NewRiver REIT has sold its pub business, Hawthorn Leisure REIT, to Admiral Taverns for £222.3m. The group had announced it was looking to divest the pub business in April 2021, and will use the proceeds to strengthen its balance sheet and reduce its loan to value (LTV) to below 40%. The sale of Hawthorn, which […]
Prime minister Boris Johnson’s ‘levelling up’ agenda aims to give a much-needed shot in the arm for regional locations in the UK. Several property trusts could also be beneficiaries. The plan involves investing in transport, skills and businesses, mainly in the north of England, to address the north-south economic divide. Although thin on detail (more […]
AEW UK REIT reports 10% NAV total return for quarter to end of June 2021. The group, which owns a diverse property portfolio comprising 36 assets in the UK, posted an 8% increase in NAV to 107.11p (driven by portfolio valuation uplift of 7.47%) and paid a dividend of 2p per share. The dividend was […]
