Impact Healthcare REIT, the care homes investor, has reported a 1.8% rise in net asset value (NAV) for the third quarter and confirmed 100% of rents for the year to date have been collected. In a trading update for the quarter ended 30 September 2020, the company said the unaudited NAV per share was 109.06p, compared to 107.17p at […]
Glenstone Property has announced its intention to acquire 25% of Alternative Income REIT (AIRE). The tender offer of up to 20,125,000 shares at a price of 59.25p represents a premium of 12.9% on the closing price on 26 October 2020, but a 29% discount to the 30 June 2020 net asset value (NAV) per share of […]
Grit Real Estate Income Group, the pan-African real estate company, has reported a big drop in net asset value (NAV) as a result of the impact of COVID-19 on its retail and hospitality properties. The group said its NAV per share for the year to the end of June 2020 would be between US$1.18 and […]
Mark Allan, the new chief executive of Land Securities, this week set out his strategy for growth at the former goliath of listed property companies. Since taking over the hot seat from Rob Noel in April, Allan has been undertaking a strategic review of the business. That review has concluded with four key pillars for […]
CEIBA Investments, the Cuban real estate investor, has acquired a 50% stake in a mixed-use industrial park development project in Mariel, Cuba. The initial investment in GBM IT Mariel, the company spearheading the development, will be limited to €1.5m. GBM IT Mariel will develop and operate a mixed use multi-phase industrial park on an undeveloped tract of […]
Secure Income REIT will not terminate Travelodge’s lease at its 123 sites (which it had the right to do as part of the terms of the hotel chain’s CVA) after running a sales process of the portfolio and attempting to re-let them. The company will maintain the current arrangements following the recent CVA, whereby the […]
Stenprop, the UK multi-let industrial property company, has collected 88% of rent since April 2020, it revealed in a trading update. Across its multi-let industrial portfolio (MLI), which makes up 63% of the wider portfolio and will eventually be 100%, the group has so far collected 70% of quarterly rent billed for the final quarter […]
Shaftesbury has announced its intention to raise £297m through a placing to firm up its balance sheet. The company, which owns a 16-acre chunk of London’s West End including Carnaby Street, has been heavily impacted by COVID-19 and the ability of its retail and leisure tenants to pay rent. The issue price of 400p is a […]
Town Centre Securities (TOWN), which owns property in Leeds, Manchester, Glasgow and London, has collected 75% of rents for the current quarter and 82% of rents since March 2020. Current quarter Of the £5.2m that TOWN billed for the quarter, it had collected £3.9m or 75%. A further £0.5m or 10% has been agreed to be deferred. […]
SEGRO has acquired Electra Park, a 13-acre urban warehouse estate in Canning Town, London from Schroders for £133m, representing a net initial yield of 2.3%. The acquisition yield for Electra Park, which provides 21,200 sqm of lettable space across 10 units of which nine are let, is thought to be the lowest ever paid for […]
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