Hammerson begins a £300m buyback programme – In its interim results report published today, listed property REIT Hammerson (HMSO) has announced that it has begun a share buyback programme for £300 million. The company confirmed that the programme had begun in a separate announcement released shortly after the interim statement was published. The buyback programme is part of […]
VinaLand sells its last two investments – VinaLand Limited will sell its stakes in both the 196HVT project and the SGPY project. The 196HVT site, which is approved for a future hospitality development, is in Ho Chi Minh City and The SGPY project is a small operating hotel located in Phu Yen. Both projects were acquired by VNL in 2008. VNL will divest […]
Hammerson sells Imperial and Fife Central Retail Parks – Hammerson plc has exchanged contracts for the sale of two retail parks, Imperial Retail Park, Bristol and Fife Central Retail Park, Kirkcaldy, for a total consideration of GBP164m to Capreon. This transaction brings Hammerson’s total proceeds from disposals in 2018 to GBP300m. Imperial Retail Park, acquired in 2012 […]
Regional REIT plans bond issue – Regional REIT has launched an offer of 4.5% sterling bonds due 6 August 2024. The Bonds will pay a fixed rate of interest of 4.5% per annum. Interest will be payable semi-annually in arrears in equal instalments. The Bonds have a minimum initial subscription amount of GBP2,000 and are available in […]
Supermarket Income REIT buys Sheffield Morrisons store – Supermarket Income REIT has acquired a Morrisons’ supermarket in Sheffield from Opus North for GBP51.7 million (excluding acquisition costs), reflecting a net initial yield of 4.9%. The supermarket is located on an 8.4-acre site in the historic and prominent Hillsborough Barracks. It comprises a 113,000 sq ft Morrisons’ […]
Residential Secure Income buys flats in Luton – Residential Secure Income has announced the acquisition of four freehold residential buildings in Luton for a total consideration of GBP13.0 million. The buildings benefit from a 9.2 year lease to the local authority (with an option for the local authority to extend by 10 years) and are used to provide […]
Primary Health Properties makes its fifth acquisition in Eire – Primary Health Properties (PHP) has contracted to fund and acquire a purpose built primary care centre in the Republic of Ireland. The company, which is doing this with its Irish investment vehicle Primary Health Properties ICAV, will provide development funding for the construction of the centre in Bray, County Wicklow, for […]
GCP Infrastructure on First Priority Housing – Civitas Social Housing was not the only fund with exposure to First Priority Housing, the housing association that got itself into difficulties when it ended up with a lot of empty properties. On 22 February 2018 the Board of GCP Infrastructure announced that the directors and the investment adviser, Gravis Capital Management, were monitoring […]
NewRiver REIT buys Hollywood – Retail & Leisure Park (Barrow in Furness) – not California! NewRiver has acquired Hollywood Retail & Leisure Park, Barrow-in-Furness, from an institutional investor for GBP15.3 million. They say that the deal offers NewRiver a number of opportunities to extract further value, including the immediate conversion of two existing units to introduce a 20,000 […]
Hibernia sells Dublin office for €65.3m – Hibernia REIT (HBRN ID) has exchanged contacts to sell New Century House in Dublin for €65.3m. The buyer is a fund managed by Credit Suisse Asset Management Global Real Estate. Completion is expected to occur in September 2018. Hiberia report that the price is modestly ahead of the March 2018 […]
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