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CLS Holdings buys Harrow office for £13.8m

CLS Holdings has exchanged contracts to buy an office in Harrow, north-west London, for £13.8m. It has acquired One Six Six on College Road, which comprises 34,655 sq ft of space and is currently multi-let to eight tenants with a weighted average unexpired lease term (WAULT) of 4.8 years to breaks and 7.9 years to expiries. The […]

Retail problems weigh heavy on British Land as NAV falls 5.4% in half-year results

Property giant British Land suffered a 5.4% fall in net asset value (NAV) while losses plunged further as the woes of the retail sector impacted on the group’s half-year results. The group’s NAV for the six months to the end of September fell to 856p, while its pre-tax losses jumped from £48m last year to […]

Workspace posts 2.7% jump in NAV as demand for serviced office space in London continues

Demand for serviced office space in London remains buoyant as Workspace Group reports strong half-year results that has seen its net asset value (NAV) increased by 2.7% to £11.15 per share. The flexible office space provider has reported net rental income up 11% in the six months to 30 September 2019 to £60.1m, while its […]

New investments from BioPharma Credit
BioPharma Credit leads new $315m loan to Sebela

New investments from BioPharma Credit – BioPharma Credit (BPCR) has announced that it has entered into two separate loan agreements where to invest US$52.5m now and up to an additional US$32.5m over the next twelve months. Epizyme – epigenetic therapies On 4 November 2019, BPCR entered into a definitive senior secured term loan agreement for up […]

JPMorgan Global Convertibles announces first liquidation distribution
JPMorgan Global Convertibles announces first liquidation distribution

The Liquidators of JPMorgan Global Convertibles Income Fund Limited (JCGI), have announced that they are to make a first interim liquidation distribution to shareholders. This will be made at the rate of 92.90 pence per each ordinary share of no par value held. They say that all distributions will be paid by way of cheques drawn upon a […]

EJF’s manager continue to absorb 80% of operating costs

In an announcement on 1 May 2019, EJF Investments (EJF) said that EJF Capital LLC, the parent of the company’s investment manager (EJF Investments Manager LLC), currently absorbs 90% of EJF’s recurring operating expenses of the Company – aside from management and incentive fees. This arrangement is due to expire “no earlier than 1 January […]

Retail woes drag on Land Securities as it records a £147m loss in half year results

Land Securities reported a £147m loss in half-year results to the end of September as the group’s retail portfolio continued to lose value following a raft of insolvencies and retailer collapses. The group posted a 3.2% fall in net asset value (NAV) per share to 1,298p from 1,341p as its portfolio lost £368m in value to […]

Assura posts strong prelims with a 9.5% rise in rental income

Assura, the healthcare property investor and developer, saw its net asset value (NAV) increase slightly to 53.5p and its portfolio value rise 3% in the six months to the end of September. However, pre-tax profit fell 2.7% to £36.4m, despite a 9.5% rise in net rental income to £50.6m. The group posted a 7.7% increase […]

Picton’s NAV nudges up in half year results

Picton Property Income announced steady half-year results today that saw its net asset value (NAV) nudge up 0.9% to 94p per share. The slight increase in NAV was in part down to a 1.2% increase in the value of its property portfolio, driven by its large weighting to the industrial and office sectors. It posted […]

AVI Global held back as underlying discount widens

AVI Global held back as underlying discount widens – For the year ended 30 September 2019, AVI Global delivered an NAV return of 2.1%, lagging its benchmark, the MSCI All Country World ex US Index, which returned 4.5%. A widening of the discount from 8.5% to 10.9% left shareholders with a return of -0.4%. The dividend […]

Symphony invests in Smarten Spaces

Symphony invests in Smarten Spaces – Symphony International Holdings is making an investment in Smarten Spaces Pte. Limited, a Singapore based SaaS (Software-as-a-Service) company that provides software solutions for space management in commercial and industrial properties. The price hasn’t been disclosed but Symphony will get a minority position in Smarten Services and this will represent less than […]

Hg Capital NAV surpasses £1bn over third quarter

Hg Capital NAV surpasses £1bn over third quarter – Hg Capital (HGT) has provided an update covering the third quarter period to 30 September 2019. Over the year to date, the company’s total return shares and NAV have returned 32% and 18%, respectively. HGT’s NAV went past £1bn over the period. Q3 investments and realisations On […]

QuotedData’s other news 11 November

In QuotedData’s other news 11 November – Civitas Social Housing (CSH), the real estate investment trust (REIT) dedicated to investing into regulated social housing across the UK, will report half year results for the period ended 30 September 2019 on Monday 2 December 2019. Yew Grove REIT (YEW), which owns a diversified portfolio of Irish […]

QuotedData’s other news 8 November

In QuotedData’s other news 8 November – Regional REIT (RGL) has announced a spate of lettings across its portfolio at an average of 19% ahead of expected rental value. The deals comprise: a 30,100 sq ft industrial unit letting at Juniper Park, Basildon, to DG International Group for a five-year period for a rent of […]

Scottish Mortgage discusses competitive pressures faced by big Chinese internet companies

Scottish Mortgage discusses competitive pressures faced by big Chinese internet companies – Over Scottish Mortgage’s (SMT) half-year period to 30 September 2019, the trust’s total return NAV increased by 3.2%, less than the 9.9% return generated by the FTSE All-World Index. This represented a rare period of underperformance by SMT. The longer term performance record remains […]

Capital Gearing Trust delivers 5.4% return over half-year period
Capital Gearing Trust net asset value is up 5.3%

Capital Gearing Trust delivers 5.4% return over half-year period – Capital Gearing Trust (CGT) has reported half-year results to 5 October 2019 with total return NAV per  share increasing by 5.4% over the period and 7.2% over twelve months. Performance in the half-year benefited from a 6% weakening of sterling relative to the dollar. Some 46% […]

Brazil leads in strong year for Aberdeen Latin American Income

Brazil leads in strong year for Aberdeen Latin American Income – Over Aberdeen Latin American Income’s (ALAI) annual results period to 31 August 2019, its shares were up +19.9% on a total return basis, while the NAV increased by 22.4% (beating the composite benchmark’s 17.4% return). Brazil the stock market’s engine Commenting on the main regional themes […]

QuotedData’s other news 7 November

In QuotedData’s other news 7 November – 3i Infrastructure (3IN) delivered a 5.8% total return in its NAV over the half-year period to 30 September 2019. The company made a significant new investment in Ionisos (£186m) over the period and in October 3IN raised new equity worth £223m. GCP Asset Backed Income (GABI) has announced the […]

Picton completes Croydon office sale for £18.2m

Picton completes Croydon office sale for £18.2m – Picton Property Income (PCTN) has completed the disposal of an office building in Croydon for £18.2m. Citylink, located on Addiscombe Road in Croydon, is a 48,000 sq ft detached office building constructed in 1986 and let to RBS and Fairfield School of Business.  The building was sold […]

Civitas Social Housing quarterly update affirms regulator has no issue with model
Civitas adds another three properties

Civitas Social Housing quarterly update affirms regulator has no issue with model – Civitas Social Housing (CSH) has released a quarterly update, to 30 September 2019. Highlights: Annualised rent roll £46.5m (30 June 2019: £46.0m) IFRS NAV per share 107.23p (30 June 2019: 107.21p) 1.325p quarterly dividend declared EPRA dividend cover 88% (EPRA run rate […]

HICL Infrastructure to sell two PPP projects for £52m

HICL Infrastructure to sell two PPP projects for £52m – HICL Infrastructure PLC, the parent company of HICL Infrastructure (HIC), has announced that the group has struck a deal to sell its entire equity and debt interests in two UK PPP projects: the Health & Safety Laboratory in Buxton; and the South West Acute Hospital in […]

Big vote against AEW Long Lease chairman

Big vote against AEW Long Lease chairman – at the Annual General Meeting of AEW Long Lease REIT, held on 5 November, most of the resolutions put to shareholders were approved overwhelmingly [as tends to be the case with most AGMs]. However, resolution number 3, which asked shareholders to approve the re-election of Steve Smith, […]

QuotedData’s other news 6 November 2019

In QuotedData’s other news 6 November 2019 Symphony International reports a 10% drop in its quarterly NAV – from $1.0915 to $0.9921 – it says falls in the value of Minor International and writedowns in its unlisted portfolio are to blame RM Secured Lending has extended the deadline for its placing to 12 November in the […]

QuotedData’s other news 5 November

In QuotedData’s other news 5 November – Gulf Investment Fund (GIF)  has renewed its investment management agreement with its investment manager, Epicure Managers Qatar Limited, a wholly owned subsidiary of Qatar Insurance Company S.A.Q., for a three-year period effective from 1 November 2019. We also have interim results from Warehouse REIT

Warehouse REIT expanding apace
Warehouse REIT

Warehouse REIT expanding apace – The UK specialist warehouse investor, Warehouse REIT (WHR), has announced interim results covering the six-month period to 30 September 2019. Results breakdown (notes around these figures can be found in the official release): Six months to 30 September 2019 30 September 2018 Revenue £13.6m £10.7m Operating profit before gains on […]

Woodford Patient Capital slashes Industrial Heat value

Woodford Patient Capital slashes Industrial Heat value – The board of Woodford Patient Capital has been notified by Link Fund Solutions, that it intends to amend the valuations of two of the company’s holdings. The first is a downward revaluation to IH Holdings International Limited (Industrial Heat) reflecting a delay in operational progress, in respect of […]

QuotedData’s other news 4 November

In QuotedData’s other news 4 November EPE Special Opportunities has appointed a new administrator (Not gone into administration as we first read the headline!!). Langham Hall Fund Management (Jersey) Limited replaces R&H Fund Services (Jersey) Limited. Globaworth is paying €185m for two Polish offices – Chmielna 89 is a 14-storey office development, situated directly adjacent to […]

New name for Edinburgh Dragon
Edinburgh Dragon - Returning to form 1

We woke this morning to annual results from Asia Dragon Trust – which was a bit confusing as it is not a fund we have ever heard of – turns out that Edinburgh Dragon’s board decided to change the name of the trust with immediate effect – the ticker becomes DGN. Given that this is […]

QuotedData’s other news 1 November 2019

In QuotedData’s other news 1 November 2019 RM Secured Direct Lending has renewed and amended its revolving credit facility with OakNorth. Under the terms of the amended facility, the company may draw down loans up to an aggregate value of GBP 10.5 million, on materially similar terms as the previous facility. The new facility will expire […]

Yew Grove buys Athlone office

Yew Grove buys Athlone office – Yew Grove REIT has reached agreement to purchase an office building at the IDA Ireland Business and Technology Park, Garrycastle, Athlone (situated in Ireland’s Midlands region). The purchase price for the building will be EUR12 million, which represents a net initial yield of 7.2 per cent. after accounting for […]

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