Overview
Alpha Pyrenees Trust is a Guernsey registered closed-ended investment company which invests predominantly in French and, to a lesser extent, Spanish commercial real estate.
Alpha Pyrenees Trust generates returns for investors through acquiring real estate with yields in excess of its cost of borrowings which has the potential for income growth and/or enhanced returns from active asset management. Alpha Pyrenees Trust generally targets properties with low vacancy levels, solid tenant covenant strength and good re-letting potential.
The company’s website can be found at the following link.
News
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09 May 2017 1 min read
Investment Trust Insider on TR Property
Many investors have a bias against funds of funds because they charge management fees on top of the fees being paid to the managers of the funds in their portfolios. Often though, these funds do produce decent performance. One listed fund of funds exemplifies this situation – TR Property (TRY) managed by Marcus Phayre-Mudge only […]
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03 Jun 2016 2 min read
Alpha Pyrenees NAV falls further into the red
Alpha Pyrenees has provided an update on its situation as at the end of March 2016. The fund’s NAV has fallen again. KEY POINTS MATURITY OF BORROWINGS EXTENDED TO 31 OCTOBER 2016 TRUST HAS THE SUPPORT OF ITS LENDER FOR AN ORDERLY REALISATION OF ITS REMAINING PROPERTY ASSETS SALES PROCESS WILL NOT RESULT IN ANY […]
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04 Feb 2016 1 min read
Alpha Pyrenees sells three more properties
Further to the announcement on 15 December 2015, Alpha Pyrenees has announced that it has sold its properties located at Athis Mons, Aubergenville and Aubervilliers in France totalling approximately 59,730 square metres for EUR24.3 million. The purchaser is an investment vehicle managed by Colony Capital, Inc. (NYSE: CLNY), a global real estate and investment management […]
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08 Dec 2015 1 min read
Alpha Pyrenees sells five French properties
Alpha Pyrenees announces today that it has sold a portfolio of five properties in France totalling approximately 127,850 square metres for €142.7 million. The properties included in the portfolio were the Trust’s largest property, the Villarceaux-Nozay Business Park let to Alcatel-Lucent, and the Trust’s properties at Evreux, Goussainville, Roissy-en-France and Nimes. The purchaser is an […]
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16 Nov 2015 1 min read
Asia ex-Japan investment trust discounts widen
The economic slowdown in China is impacting other countries in Asia and the developed world, and hopes of growth in consumer spending and the services sector coming to the rescue are fading. Rebalancing the economy away from infrastructure investment and traditional industrial drivers, while cushioning the services sector and allowing new industries to develop, is […]
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15 Oct 2015 1 min read
Alpha Pyrenees extends its borrowing facilities until April 2016
Alpha Pyrenees has announced a new extension of its loan facilities with Barclays Bank PLC to 15 April 2016. The maturity date for its borrowings (€257.8m) was 15 October 2015. The company says that current interest rates will continue to apply to the facilities during the new extension period. Arrangement fees (charged at 2% per […]
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18 Aug 2015 2 min read
Alpha Pyrenees NAV hits zero
Alpha Pyrenees has published its interim results for the six month ended 30 June 2015. Its net asset value is now zero (though adjusting for the impact of derivative contracts and deferred tax gives an NAV of 2.4p). The Chairman said: “Given the current economic environment and the maturation of the Group’s bank borrowings on 15 […]
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17 Jul 2015 1 min read
Alpha Pyrenees sells Cordoba retail park
Alpha Pyrenees has sold the Connecta Retail Park investment in Córdoba, one of the principal cities in the Andalucia region, for €15.3m – 100k more than its 31 December 2014 valuation. The property totals approximately 16,880 square metres and is located on the Avenida de Cadiz, the main access route from the A4 motorway to the […]
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16 Jul 2015 1 min read
Small company investment trusts got election boost
Investment trusts specialising in smaller companies were among the top performers of the past few months after a decisive election result improved confidence in the sector, new research shows. But commodity and Asia-focused investment trusts were among the stragglers as investors shunned stocks exposed to an economic slowdown in China or a US rate rise, […]
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13 Mar 2015 1 min read
Alpha Pyrenees edges closer to negative net assets
Alpha Pyrenees has published results for the year that ended on 31 December 2014. The fund’s net asset value has been declining in recent years – falling from 28.5p at the end of June 2013 to 22.8p at 31 December 2013 to 12p at 30 June 2014 and finally 6p at 31 December 2014. The […]
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10 Feb 2015 1 min read
Alpha Pyrenees debt deadline extension
Alpha Pyrenees has announced that its main lender, Barclays, has agreed to extend the deadline for repaying its debt until 11 May 2015. The total outstanding is €271m. Alpha Pyrenees will pay 0.5% or €1.35m as a fee for the extension. The announcement says that the company is within its debt covenants as at 11 […]
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27 Jan 2015 1 min read
Alpha Pyrenees in talks with lender
Alpha Pyrenees Trust has announced that it is in talks with its lender about potential refinancing options for the company, including the potential refinancing of assets by third party lenders and potential asset sales. To enable these discussions to proceed further the Company is discussing an extension of its current facilities for a period of […]
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07 Oct 2014 1 min read
Alpha Pyrenees sells office in Gennevilliers
ALPH : Alpha Pyrenees sells office in Gennevilliers Alpha Pyrenees has announced that it has sold an office investment in Gennevilliers in France (north Western Paris suburbs) for €7.4m. The price is in line with book value. The property comprises 3,410 sqm and is let to Husqvarna France on a 9 year lease with a […]
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15 Aug 2014 1 min read
Alpha Pyrenees edges closer to negative NAV territory
ALPH : Alpha Pyrenees edges closer to negative NAV territory Alpha Pyrenees’ interim results published on 15 August show a fall in its net asset value to 5.3p from 12.7p. (12.0p from 22.8p if, as Alpha Pryenees do, you adjust for the fair value movement on the currency swap – eliminated in October 2013, the interest […]
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09 Jun 2014 1 min read
Alpha Pyrenees Trust : ALPH – disposal
Alpha Pyrenees Trust has announced that it has sold a 5,180 sqm multi-let warehouse and office investment, in Vitry-sur-Seine near Paris, for €5.7 million – 7.5% more than its book value. At the same time Alpha Pyrenees Trust has announced that it has sold the larger of the two vacant warehouse units located in Zaragoza, Spain for €1.3 million (book […]
