LXI REIT has announced its intention to raise £75m through the issue of new shares. The issue price of 133p per share reflects a 2.3% premium to the company’s estimated IFRS net asset value (NAV) of 130p at 1 June 2021 and a discount of 7.9% to its closing share price of 144.4p. The proceeds […]
Real estate has historically been a good hedge against inflation and, with the consumer prices index (CPI) rising to 2.1% in May heightening fears that stagflation could be round the corner, investors may be keen to double down on their real estate investment trust (REIT) exposure. However, traditional real estate market drivers are not at […]
Tritax EuroBox has acquired a logistics asset in the Port of Gothenburg, Sweden – its first in the Nordics – for SEK474 million (€47m). The 28,900 sqm property comprises two purpose built logistics facilities (one of 16,200 sqm and the other 12,700 sqm), located in the heart of the prime logistics location in the Port of […]
The industrial and logistics sector has been the standout property performing for some time now and particularly during the pandemic, where accelerated online retailing trends and new supply-chain resilience requirements has significantly boosted demand. However, contrasting views on the future growth prospects of one of the sub-sectors, multi-let industrial, was borne out this week in […]
Stenprop, the multi-let industrial (MLI) property company, has posted a NAV total return for the year to 31 March 2021 of 11.4%. This was made up of a 6.5% increase in EPRA net tangible assets (NTA) to 147p per share and dividends paid of 6.75p in the year. The group’s portfolio, which is now 74.3% […]
The board of Sigma Capital Group, the private rented sector (PRS) specialist, has reached agreement on the terms and conditions of a recommended cash offer for the business, valuing it at £188.7m. Private equity company PineBridge Benson Elliott has offered 202.1p per share for the company, which is a 35.6% premium to last night’s closing price […]
LXI REIT has exchanged contracts on the forward funding acquisition of a 94,000 sq ft garden centre in Reading for £19m, reflecting an accretive 5.3% net initial yield. The property is pre-let to Dobbies, the UK’s largest garden centre operator and an existing tenant of the company, on a new 35-year lease, with no break […]
Lar Espana Real Estate has extended the investment management agreement (IMA) with Grupo Lar by five years on a reduced fee. The board of directors of the company, which owns retail malls in Spain and listed on the Madrid Stock Exchange in 2014, has agreed to renew the IMA with a new fee structure. The […]
Urban Logistics REIT has reported a stellar set of annual results in which EPRA net tangible assets (NTA) increased 10.5%. The uplift, to 152.33p per share at 31 March 2021 from 137.89p the previous year, reflected a jump in the value of its properties (by 13.2%) as the logistics sector continued its strong ascent. Total accounting […]
Sirius Real Estate, the German business parks owner and operator, posted a net asset value (NAV) total return for the year to 31 March 2021 of 19.5%. This was generated from a 15.0% uplift in NAV and 3.62 euro cents dividends paid in the year. The strength of the German business park sector, especially in […]
