Tritax EuroBox, which invests in logistics real estate assets in continental Europe, has been assigned an investment grade credit rating by Fitch Ratings. By achieving investment grade rating (it has been assigned a BBB- long-term corporate credit rating), the group has satisfied a condition on its existing revolving credit facility that will result in an immediate […]
LondonMetric Property has sold a portfolio of long income assets to Realty Income, an S&P 500 US REIT, for £40.9m, reflecting a blended net initial yield of 5.9%. The portfolio, which has a WAULT of 11 years, comprises: A 106,000 sq ft retail asset in Leicester let to B&Q, Home Bargain and Smyths Toys. The […]
Tritax Big Box REIT reported a whopping 15.7% jump in EPRA net tangible assets (NTA) in full year to the end of December 2020, as the strong fundamentals of the logistics sector continued apace. The group’s portfolio grew in value over the year by 11.9% to £4.41bn, driven by development gains, asset management and the strength […]
West End landlord Capital & Counties reported a portfolio value loss of almost a billion pounds during 2020. The group, which owns huge swathes of Covent Garden, said its property portfolio was valued at £1.9bn at the end of 2020, down 26% on a like-for-like basis from £2.8bn a year previously. The valuation deficit was […]
Stenprop has acquired three multi-let industrial (MLI) estates for £18.4m as it remains on target to be a fully focused MLI REIT by the end of the next financial year. The three in Newcastle, Bromborough and Bradford, have been purchased in separate transactions at a net initial yield of 6.7% and a capital value of […]
Tritax EuroBox raised £198.4m (€230m) in a significantly oversubscribed fund raise. The group had announced it was looking to raise £173m (€200m) but demand for the issue saw it smash that target. A total of 192,633,688 new shares will be issued at a price of 103 pence, of which 57,232,790 will be issued pursuant to the open […]
Home REIT, the homeless accommodation investor, has fully invested the proceeds of its £240m initial public offering after the acquisition of 11 portfolios for £48.1m. The group, which launched in October 2020, now has a portfolio of 572 homeless accommodation properties that represent an average net initial acquisition yield of 5.83%. Significant remaining resources are […]
University students have been having a hell of a time of it during COVID. After the debacle of last September when they were encouraged to attend classes and take up accommodation only to then be effectively locked up while the virus ravaged through campuses, they have not just missed out on university life but have been expected […]
Helical has let an 88,500 sq ft office in Farringdon to TikTok. The social media giant has leased the whole of the Kaleidoscope building, which sits above the Farringdon East Crossrail Station, for a 15 year term with a tenant option to break at year 10. Comprising ground and five upper floors, Kaleidoscope was the first […]
The board of Drum Income Plus REIT has undertaken a strategic review into the company that it said could result in it selling off all its assets. The group, which was launched in 2015, has persistently traded at a significant discount to net asset value (NAV) having not reached a scale that makes its shares […]
