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intu reports significant fall in NAV

intu reports significant fall in NAV – intu has released results for 2018 that show a drop in its EPRA NNNAV from 349p to 271p. Underlying earnings per share also fell – from 15p to 14.4p. The fall in NAV pushed up the company’s debt ratio to 53.1% from 45.2%. It said “In a challenging […]

AEW UK Long Lease REIT buys YMCA Woolston Nursery property, Southampton
AEW UK Long Lease REIT AEWL - Woolston Nursery

AEW UK Long Lease REIT (AEWL) has announced that it has acquired a nursery property, 53 Victoria Road, in central Southampton. The property, known as the YMCA Woolston Nursery, was purchased by way of a sale and leaseback agreement with YMCA Fairthorne Group, a regional operation of the charity YMCA (the world’s largest youth charity). […]

Temple Bar makes Peter Lowery deputy manager

Temple Bar makes Peter Lowery deputy manager – Temple Bar has announced results for the year ended 31 December 2018. The NAV total return was -11.2%, worse than the return on the All-Share Index which was -9.5%. The dividend has been hiked by 10%, emphasising Temple Bar’s AIC ‘dividend hero’ status. Alastair Mundy has managed the […]

Tufton Oceanic Assets fully invested and proposing a USS$75m capital raise
Two new vessels for Tufton Oceanic Assets : SHIP

Tufton Oceanic Assets (SHIP) has announced that it has agreed to acquire one general cargo vessel for $6.75m. This purchase will take the Company’s fleet to twelve vessels and, following the purchase, SHIP says that its “capital resources are now fully committed”. It has since announced its intention to raise up to $75m by way […]

Herald benefits from defensive positioning
HRI : Herald Investment Trust - Investing in the future Herald Investment Trust - Shifting sentiment

Herald Investment Trust (HRI) has announced results for the year ended 31 December 2018. During the year, HRI’s NAV fell by 4.9%, while its share price fell by 8.2%, reflecting a widening of the discount during the period. HRI says that this compares against a fall in the Numis Smaller Companies Index plus AIM (ex. […]

Aberdeen Standard European Logistics invests in Krakow

Aberdeen Standard European Logistics invests in Krakow – Aberdeen Standard European Logistics Income has signed an agreement to acquire a freehold logistics warehouse in Krakow, Poland for a net value of EUR24.5 million providing a net initial yield of 6.8%. The vendors are Panattoni and Marvipol, well-known international real estate developers specialising in logistics. The transaction is […]

Renewables Infrastructure Group sees portfolio generation close to budget

The Renewables Infrastructure Group (TRIG) has announced its final results for the year ended 31 December 2018. During the year, TRIG provided an NAV total return of 11.6%. It describes the year as one of “Strong financial performance during the year with portfolio generation close to budget” and has provided the following key highlights: Portfolio […]

Civitas Social Housing buys nine properties for £7.8m
Civitas Social Housing - Regulatory action is positive

Civitas Social Housing has announced that it has completed the purchase of 9 regulated social housing properties, comprising 42 tenancies, for a total consideration of £7.8m. The properties are leased to Encircle Housing Limited, Auckland Home Solutions C.I.C. and Inclusion Housing C.I.C. all of which are regulated by the Regulator of Social Housing and are […]

Primary Health properties to fund Athy Primary Care Centre in County Kildare
Primary Health Properties makes its fifth acquisition in Eire

Primary Health Properties (PHP) has announced that it has contracted to fund and acquire a purpose built primary care centre in Athy, County Kildare, in the Republic of Ireland. The transaction is being conducted through Primary Health Properties ICAV, an Irish investment vehicle wholly owned by PHP, for a total cost of €11.4 million. Construction […]

NB Distressed Debt sells largest holding for €34m

NB Distressed Debt has announced the sale of its combined largest holding, a lodging and casino sector investment, for proceeds totalling approximately $34 million. It says that the sale price is “substantially equal to the carrying value in the most recent Net Asset Value announcements” and represents a gain of approximately $9 million over the […]

HICL Infrastructure ups its stake in the N17/N18 Gort to Tuam PPP Scheme
HICL Infrastructure - N17/N18 Gort to Tuam PPP Scheme

HICL Infrastructure has announced that it has agreed to acquire a further 40% interest in the N17/N18 Gort to Tuam PPP Scheme for €23m. The purchase is being funded from HICL’s revolving credit facility and the transaction is expected to complete by the end of February 2019. Harry Seekings, Co-Head of Infrastructure at InfraRed (HICL […]

AEW UK REIT acquires Lockwood Court Warehouse, Leeds, for £7.3m
AEW UK REIT - LWS - Leeds Warehouse

AEW UK REIT(AEW) has announced that it has acquired Lockwood Court, a 187,794 square foot warehouse located on the Parkside Industrial Estate in Leeds, for a gross purchase price of £7.3m, reflecting a initial yield of 7.7%. About Lockwood Court The Lockwood Court warehouse asset is fully let to LWS Yorkshire Ltd, a logistics and […]

Judgement issued on Inclusion Housing CIC
Judgement issued on Inclusion Housing CIC

Judgement issued on Inclusion Housing CIC – The Regulator of Social Housing has issued a regulatory judgment in respect of Inclusion, one of the 15 housing associations working with Civitas. Inclusion has been issued with a G3 grading in terms of Governance and a V3 grading in terms of Financial Viability. These are the same gradings […]

Aberdeen Standard European Logistics expands in France
Aberdeen Standard European Logistics buys in France

Aberdeen Standard European Logistics expands in France – completes purchase of logistics warehouse located in Meung-sur-Loire, France, that was announced on 23 November 2018. Cost was EUR23.5 million providing a net initial yield of 4.7%. The warehouse is let to Office Depot France on a fully indexed lease until 2026 resulting in an unexpired lease term […]

Yew Grove REIT buys office block at Cork Airport Business Park for €7.5m
YEW Grove REIT YEW Cork Airport Business Park

Yew Grove REIT has announced that it has exchanged contracts to acquire Unit 2600, an Office Block located in Cork Airport Business Park. The €7.5 million acquisition represents a net initial yield of 7.85 per cent. after accounting for purchase costs. This is Yew Grove’s first investment in Cork. Unit 2600 Unit 2600 is a […]

BB Healthcare has “another successful year”
BB Healthcare announces result of issue

BB Healthcare Trust has announced its annual results for the year ended 30 November 2018. During what the trust’s chairman, Professor Justin Stebbing, describes as “another successful year”, the trust provided Nav and share price total returns of 24.0% and 21.6% respectively. These returns are ahead of the MSCI World Healthcare Index, which it says […]

Cost of debt restructuring contributes to Brunner underperformance

Brunner Investment Trust has announced its final results for the year ended 30 November 2018. During the year, Brunner provided an Nav total return of 2.7%, which the trust says a little behind the composite benchmark index (70% FTSE World Ex-UK and 30% FTSE All-Share Index). BUT says its benchmark rose by 4.1% on a total […]

Airbus will end A380 production
No dramas for aircraft leasing funds

Airbus will end A380 production – There is a story in the press this morning that Airbus has decided to stop making A380s in 2021. The decision was made after Emirates scaled back its orders for the plane. Those funds that own and lease A380s to Emirates – the three Doric Nimrod funds and Amedeo […]

Pershing Square will pay modest dividend
Pershing Square Holding : PSH

Pershing Square will pay modest dividend – Pershing Square Holdings has initiated a quarterly dividend of $0.10, representing a current yield of 2.5% (based on the closing price of $15.70 on 12 February 2019). The idea is that instituting a quarterly dividend will expand Pershing Square’s investor base by attracting shareholders who prefer or require dividend-paying […]

LXi gets coffee fix

LXi gets coffee fix – LXi REIT has exchanged contracts to provide forward funding for the pre-let development of a portfolio of 13 separate Starbucks and Costa drive-thru format coffee shops for a combined consideration of GBP23.4 million, reflecting a 5.7% net initial yield (net of acquisition costs). The acquisitions are being funded with their new […]

Polar Capital Global Financials navigates a topsy-turvy year
Polar Capital Global Financials Trust PCFT

Polar Capital Global Financials Trust (PCFT) has announced its annual results for the year ended 30 November 2018. In what the chairman’s statement describes as a topsy-turvy year for global equity markets, PCFT provided NAV and share price total returns of -1.5% and -1.7% respectively, which it says compares against a total return for its […]

Ediston Property restructures New Look lease at Prestatyn Shopping Park
Ediston Property Investment Company EPIC NEW Look Prestatyn Shopping Park

Ediston Property Investment Company (EPIC) has announced that it has restructured lease terms with New Look at Prestatyn Shopping Park, Prestatyn. This has led to both increased rent and a longer lease term. Background to the restructuring – New Look’s CVA New Look completed a Company Voluntary Arrangement (CVA) in March 2018, under which the […]

BlackRock Throgmorton Trust substantially outperforms during a challenging year
BlackRock Throgmorton Trust THRG Dan Whitestone Manager

BlackRock Throgmorton Trust (THRG) has announced its annual results for the year ended 30 November 2018. While THRG’s net assets fell during the year, the trust has provided a return substantially ahead of the benchmark index. Specifically, THRG provided NAV and share price total returns of -2.7% and +1.8% respectively, which it says compares against […]

Ranger Direct Lending Fund confirms new management and valuation arrangements
Manager resigns at Ranger Direct Lending

Ranger Direct Lending (RDL) has provided an update on the company’s management and valuation arrangements. As previously announced, RDL’s investment management agreement with Ranger Alternative Management II, LP terminates with effect from today (12 February 2019). The Company has appointed International Fund Management Limited (IFM) as its replacement Alternative Investment Fund Manager with immediate effect and, […]

Local Shopping REIT updates on property sales programme
Local Shopping REIT LSR property disposal programme

The Local Shopping REIT (LSR) has provided an update on its Property Sales Programme. Since its last update, LSR has sold or exchanged contracts for sale on 6 properties for an aggregate price of £0.93 million, representing a 1.1% discount to carrying value before sales costs. It says that, of these, 3 properties were sold […]

Tritax Big Box fundraise pulls in £250m to fund db Symmetry acquisition
Tritax Big Box REIT BBOX

Tritax Big Box REIT (BBOX) has announced the results of its recent fundraising under which the Company has raised approximately £250 million (before expenses). The net proceeds of the issue are to be used by to fund the acquisition of an 87 per cent. economic interest in db Symmetry as well as further investments. The […]

Primary Health Properties acquires Oakwood Lane Medical Centre, Leeds, for £5.4m
Primary Health Properties makes its fifth acquisition in Eire

Primary Health Properties (PHP has announced that it has acquired the entire issued share capital of Chapeloak Investments Limited, whose sole activity is the ownership of the Oakwood Lane Medical Centre, in Leeds, for a total consideration of £5.425m. It has also contracted to forward fund the development of a purpose built medical centre in […]

Witan Pacific goes all or bust
Witan Pacific WPC

Witan Pacific (WPC) has provided a corporate update in which it says that its board is concerned that WPC has experienced some underperformance relative to its benchmark in recent years. The Board says that it believes that the Company must justify its actively managed investment approach. Therefore, it has resolved that, if the Company does […]

Yew Grove REIT exchanges on Office Block A at the IDA Waterford Business and Technology Park
Yew Grove REIT YEW Block A Waterford Business and Technology Park

Yew Grove REIT has announced that it has exchanged contracts to acquire Office Block A at the IDA Waterford Business and Technology Park, Butlerstown, Waterford. The €4 million transaction represents a net initial yield of 8.56 per cent, after accounting for all purchase costs. The purchase if the company’s first in Waterford. Jonathan Laredo, Yew […]

Ediston Property completes Pallion Retail Park leases with Go Outdoors and The Wallpaper Warehouse
Ediston property Investment Company EPIC Go Outdoors

Ediston Property Investment Company (EPIC) has announced that it has completed two lease transactions for Pallion Retail Park, Sunderland. The two tenants are Go Outdoors and The Wallpaper Warehouse. Go Outdoors takes on Unit 2 at Pallion Retail Park GO Outdoors signed an agreement for lease on unit 2, which comprises 11,345 square feet, in […]

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