The good news is it appears rent collection rates for the current quarter have not dropped from the previous quarter. Three weeks after rents were billed 48% was received versus 47% in the equivalent period after March quarter day, according to data from commercial property management platform Re-Leased. The bad news is, still only 48% […]
BMO Real Estate Investments has reported a 3.1% fall in its net asset value (NAV) for the quarter to the end of June. The group said the unaudited NAV per share at 30 June 2020 was 96.6 pence (31 March 2020: 99.7 pence). The NAV fall was due to a 2.5% drop in the value […]
Yew Grove REIT, which owns a diverse portfolio of Irish commercial property assets, expects 98% rent collection this quarter. The company said in a trading update that all of the rent that has been billed has been paid with the exception of: around 1% from a large multi-national that has been delayed due to a […]
Stenprop has exchanged contracts to sell a retail park in Berlin for €27m. The disposal of Neucölln Carrée retail park to Union Investment reflects a €3.6m premium to the 31 March 2020 book value and is the latest step in Stenprop’s transition into a fully-focused UK multi-let industrial (MLI) property company. As at 31 March 2020, around […]
The PRS REIT, which invests in new-build family homes in the private rented sector (PRS), has reported a slowdown in home completions due to covid-19. During the quarter to the end of June, it completed 135 new rental homes, which was below the prior quarter volume of 330. This was due to an eight week period […]
Alternative Income REIT has said it expects to collect at least 84% of rent for the current quarter by September. The group, which owns a diverse portfolio of 19 long-let properties, has provided a breakdown on rent collection in which: 89% of tenants that pay quarterly rents (representing 70.4% of total quarter rent including monthly) […]
With so many REIT’s having de-rated heavily, sifting out the companies that were swept along in the coronavirus slump and left with unmerited discounts is fraught with danger. We have seen industrial and logistics specialists bounce back strongly due to a lockdown acceleration in the sector’s fundamentals, namely ecommerce penetration rates. However, more generalist companies that […]
Great Portland Estates (GPOR) has collected 69% of rents for the current quarter, and in doing so has tapped into rent deposits. The London office developer said collection figures were at 58% excluding deposits. From its office portfolio it had received 74% and from its associated retail/hospitality units it had collected 28%. The group had […]
Care home investor Impact Healthcare REIT has collected 100% of rents in advance for the current quarter, but occupancy falls by 8%. As a result of the uninterrupted collection, the company has reaffirmed its intention to pay its second-quarter interim dividend, for the period from 1 April to 30 June, in line with expectations with […]
Primary Health Properties has reported a 7.1% increase in earnings in a trading update for the six months to the end of June. The company, which owns a portfolio of primary healthcare facilities, said adjusted EPRA earnings per share grew to 3.0p (June 2019: 2.8p). This was off the back of an average uplift of 2.2% per […]
