SECURE Property Development & Investment PLC has announced that it has bought Innovations logistics park in Bucharest, Romania, for €12.6m; funded by €4.4m of cash resources, by issuing 785,000 redeemable shares and with bank debt. The logistics park has 17,000 sqm of gross leasable area and is located in Clinceni in Bucharest, which benefits from being on the Bucharest ring road, […]
JP Morgan Asian Investment Trust has published its interim results for the period ended 31 March 2014. Over the six months the fund marginally underperformed its benchmark index (the MSCI Asia ex Japan) with a net asset return of -1.3% compared to -0.3% for the index. The discount narrowed a little and the return to […]
Henderson Value Trust has released its interim results for the half year to end March 2014. The net asset value barely changed over the period – rising from 290.2p to 290.8p but the share price fell from 245p to 240p meaning that the discount widened to 17.5%. The 1.1% total return on net assets underperformed […]
F&C Capital & Income Investment Trust, managed by Julian Cane (pictured), generated a total return on net assets of 3.9% for the six months ended 31 March 2014 – lagging the 4.8% return on the FTSE All-Share Index. The trust’s rating improved however and this generated a return to shareholders of 5.4%. The quarterly dividends for […]
Local Shopping REIT has released its results for the six months ended 31 March 2014. The net asset value rose from 41p to 43p during the period while the adjusted NAV (excluding liabilities arising from derivative financial instruments) rose to 49p (corrected by LSR on 23 May) from 48p. Property values in the portfolio rose by 0.1% on average. […]
JP Morgan Private Equity has announced that it has sold part of its stake in Terra Firma Deutsche Annington (the largest holding in the portfolio). Deutsche Annington is the largest investor in German real estate with almost 175,000 residential units. JP Morgan Private Equity acquired its stake in two chunks – one in 2006 and a […]
Max Property has published its results for the year ended 31 March 2014. Over the year its EPRA NAV has risen by 21% from 136.5p to 164.5p on the back of a 12.4% uplift in the value of its property portfolio which, with income, translated into a 19.3% ungeared return on property. Within this its […]
Kennedy Wilson Europe is paying Bank of Scotland up to £93.5m to acquire a portfolio of loans all of which are in receivership. The passing rents on the portfolio are £7m. The portfolio is spread across England and comprises “high tech properties”.
Over the year to end March 2014, Great Portland Estates saw its EPRA NAV rise by 27.6% to 569p. Properties were revalued upwards by 18.7% – the bulk of this return came from the profit generated by their developments (95 Wigmore Street, City Tower EC2 and 240 Blackfriars Road were all completed during the year). […]
BlackRock Frontiers, managed by Sam Vecht (pictured), says that over the six months ended 31 March 2014 the total return on its net asset value was 7.8% in Sterling (11.0% in US dollars). The return lagged that of the MSCI Frontiers Index which returned 11.2% in Sterling and 14.4% in US dollars. The report attributes the […]
