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Real Estate News

This sector includes mortgage companies, property management companies and REITs

13 Nov 2018
LXi has made six new property acquisitions

LXi REIT has made six new property acquisitions

LXi REIT has made six new property acquisitions- LXi REIT has purchased six new properties with total consideration of £62.4 million (excluding costs). This has the companies £175 million equity raise on 12 October 2018 fully deployed. All six properties are 100% linked to the retail price index. The weighted average unexpired lease terms to […]

09 Nov 2018
Regulator verdict on Trinity Housing

Regulator verdict on Trinity Housing

Regulator verdict on Trinity Housing – Following on from our story of 3 October, The Regulator for Social Housing has passed a regulatory judgement on Trinity Housing Association. Its conclusion on governance and viability is: G3 (Non-compliant) The provider does not meet our governance requirements. There are issues of serious regulatory concern and in agreement […]

07 Nov 2018

Tritax EuroBox buys logistics warehouse near Bochum

Tritax EuroBox buys logistics warehouse near Bochum- Tritax Eurobox has announced today that they have acquired a prime, new modern logistics warehouse near Bochum, in the Rhine-Ruhr region of Germany (which they describe as a core established logistics area). Tritax has divided the 36,400 sqm building into four units with eaves height of 12 metres. […]

07 Nov 2018

Target Healthcare REIT buys in Oxford and Sevenoaks

Target Healthcare REIT buys in Oxford and Sevenoaks- the value of the two development sites is £37 million (including transaction costs and future development work). The rest of Target Healthcare’s remaining uncommitted capital is fully deployed. The remaining development will be funded under capped development contracts. The two projects are located in Cumnor Hill, Oxford […]

01 Nov 2018

Aberdeen Standard European Logistics buys Dutch warehouse

Aberdeen Standard European Logistics buys Dutch warehouse – Aberdeen Standard European Logistics has exchanged contracts to acquire a new development in Oss, the Netherlands, for a purchase price of €15.7m, providing a net yield of 5.3%. The agreement with developer Heembouw Breda B.V is structured as a forward funding deal with a 5.5% coupon rate. The development […]

30 Oct 2018

Tritax EuroBox buys Action Logistics warehouse near Hannover

Tritax EuroBox buys Action Logistics warehouse near Hannover –  Tritax EuroBox has bought a prime, modern logistics warehouse at Peine, near Hannover, Germany (which they describe as a key logistics location). The property is let to Action Logistics Germany GmbH, a subsidiary of Action BV, the fastest growing non-food discount retailer in Europe, headquartered in the Netherlands […]

26 Oct 2018

Residential Secure Income buys shared ownership portfolio

Residential Secure Income buys shared ownership portfolio – Residential Secure Income has exchanged contracts to acquire 34 new build homes located in the London Borough of Barnet, which it intends, using government grant funding, to convert into shared ownership homes. It says that it has plans to make similar deals in future, making use of government grant […]

26 Oct 2018

SEGRO sells Belgian warehouses to Tritax EuroBox

SEGRO sells Belgian warehouses to Tritax EuroBox – SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership joint venture, has sold four big box warehouses and adjacent development land in Belgium to Tritax EuroBox. The partnership has received net proceeds of €83.4m (SEGRO owns 50 per cent of the partnership so its share […]

26 Oct 2018

RDI REIT cuts cost ratio to boost earnings

RDI REIT cuts cost ratio to boost earnings – RDI REIT has announced results for the year ended 31 August 2018. Highlights include: EPRA NAV per share increased 3.4% to 42.8 pence Underlying earnings per share of 2.84 pence, an increase of 3.3% Net rental income increased 2.1% on a like-for-like basis EPRA cost ratio (excluding direct […]

26 Oct 2018

Triple Point Social Housing invests in another 87 units

Triple Point Social Housing invests in another 87 units – Triple Point Social Housing REIT  has completed the acquisition of ten supported housing properties, acquired the land and entered into forward funding arrangements to develop another supported housing scheme and exchanged contracts on one further supported housing property, comprising 87 units in total, for an aggregate commitment […]

24 Oct 2018

Warehouse REIT buys Widnes Amazon warehouse

Warehouse REIT buys Widnes Amazon warehouse – Warehouse REIT has exchanged contracts for the acquisition of a warehouse in Widnes, Cheshire for£2.765m, reflecting a net initial yield of 7.3%. The asset is fully let to Amazon UK Services Ltd on a newly agreed five-year lease to serve the online retailer’s last mile distribution requirements across the surrounding […]

24 Oct 2018

LXi REIT deploys £109m

LXi REIT deploys £109m – LXi REIT recently raised £175m from investors and today it has announced five deals that will deploy £109m of this. The company says it is in solicitors’ hands on further acquisitions which will fully deploy the balance in the next few weeks. Further acquisition announcements will be made shortly. BCA logistics facility, […]

24 Oct 2018

UK Commercial Property sells Barclays Bank in Exeter

UK Commercial Property sells Barclays Bank in Exeter – UK Commercial Property REIT Limited has sold a retail asset, 16-20 High Street, in Exeter, to a UK pension fund for £23.5m. The price is in line with book value and reflects a net initial yield of 4.75%. The sale follows the completion of the REIT’s asset management […]

15 Oct 2018

Regulator looking into Westmoreland Supported Housing

Regulator looking into Westmoreland Supported Housing – The Regulator of Social Housing has published a new grading under review notice – this time on Westmoreland Supported Housing, a leading registered provider in the portfolios of Civitas Social Housing and Triple Point Social Housing REIT. The notice says “The Regulator of Social Housing reports that Westmoreland Supported Housing Limited […]

12 Oct 2018

Tritax Big Box REIT buys Bosch warehouse

Tritax Big Box REIT buys Bosch warehouse – Tritax Big Box REIT has exchanged contracts, conditional on receiving full planning consent, to provide forward funding for the development of a new National Distribution Centre at Midlands Logistics Park, Corby. The property is pre-let to BSH Home Appliances Limited, part of the Bosch Group. The Bosch Group is […]

12 Oct 2018

SEGRO sells Rome warehouse to Tritax EuroBox

  SEGRO sells Rome warehouse to Tritax EuroBox – SEGRO has exchanged contracts to sell a 158,000 sq m warehouse in Rome for EUR118 million. The transaction is expected to complete by the end of October 2018. The warehouse was developed by SEGRO-Vailog in August 2017 for a global online retail company on a 15 year lease. […]

11 Oct 2018

Local Shopping REIT may be worth 34.5p per share

Local Shopping REIT may be worth 34.5p per share – The Local Shopping REIT has sold or exchanged contracts for sale on 36 properties since its last update, for an aggregate price of £5.8m, a 1.1% premium to carrying value before sales costs. 16 of these properties were sold at auction, mainly in September. The aggregate sale […]

10 Oct 2018

PRS REIT to be fully invested by 2019

PRS REIT to be fully invested by 2019 – The PRS REIT has published its first set of results, covering the 13 months from commencement of trading on 31 May 2017 to 30 June 2018. Financial highlights Total revenue of £1.8m, generated from rental income, with net rental income of £1.5m Operating profit of £2.7m Profit after […]

09 Oct 2018

Warehouse REIT gets planning for Glasgow site

Warehouse REIT gets planning for Glasgow site – Warehouse REIT has secured planning permission for change of use on 16 acres of its land at the Queenslie Park industrial estate in Glasgow. The proposed development will deliver up to 250,000 sq ft of employment-led space, comprising a combination of distribution/logistics, industrial, commercial, storage, retail and hospitality space. […]

08 Oct 2018

UK Commercial Property REIT sells Soho office

UK Commercial Property REIT sells Soho office – UK Commercial Property REIT Limited has completed the off-market sale of 15 Great Marlborough Street, an office asset in London’s Soho, to Royal London Asset Management for GBP73.2 million, ahead of the last valuation as at 30 June 2018. The 49,094 sq ft freehold office building, which is arranged […]

05 Oct 2018

Alpha Real Trust gets positive planning decision on Monk Bridge

Alpha Real Trust gets positive planning decision on Monk Bridge – Alpha Real Trust has announced that a further planning consent has been granted at the monthly planning committee for Leeds City Council in respect of the Company’s Private Rented Sector (“PRS”) development site at Monk Bridge in central Leeds. Detailed planning consent was originally granted in May […]

26 Jul 2018

Hansteen and Warehouse REIT talking about a deal

Hansteen and Warehouse REIT talking about a deal – Warehouse REIT has confirmed that it is in discussions regarding the potential acquisition, in partnership with a third party, of a portfolio of industrial assets from Hansteen Holdings PLC, which could constitute a reverse takeover under the AIM Rules for companies. Any potential acquisition could be subject to the […]

11 Jul 2018

LondonMetric Property swaps Odeon for shed

LondonMetric Property swaps Odeon for shed – LondonMetric Property has exchanged on the sale of an Odeon Cinema in Warrington for GBP13.7 million, reflecting a NIY of 4.8%, and acquired an urban logistics asset in Milton Keynes for GBP12.0 million, reflecting a deemed NIY of over 5.0%. At Warrington, the 10 screen, 36,000 sq ft cinema formed part of […]

19 Apr 2018

Name change for investment adviser of Local Shopping REIT

Name change for investment adviser of Local Shopping REIT – The Local Shopping REIT (LSR) has the objective of building a portfolio of properties and letting units in the convenience shopping market. The directors of The Local Shopping REIT have announced that they have been informed by the company’s investment adviser, Internos Global Investors Limited, that […]

18 Apr 2018

Hammerson withdraws from its offer for Intu

Hammerson withdraws from its offer for Intu – On 6 December 2017, Hammerson (HMSO) announced an all-share offer for Intu Properties (INTU). HMSO has decided to with draw from the offer. HMSO had itself been subject to a take over bid from Klépierre, a French real estate investment trust and Europe’s second-biggest publicly traded mall operator, which it […]

17 Apr 2018

F&C Commercial Property underperforms in 2017

F&C Commercial Property underperforms in 2017 – the NAV total return of F&C Commercial Property (FCPT ) for the year was 8.8% and the share price total return was 3.9% for the year to 31 December 2017. The total return from the portfolio was 8.7%, whereas the MSCI Investment Property Databank (‘IPD’) Quarterly Benchmark Index returned 10.3% […]

23 Mar 2018

Highcroft’s property income grows 22% in 2017

Highcroft’s property income grows 22% in 2017 – Highcroft Investments (HCFT) delivered its final report for the calendar year ending 31 December 2017.  Headlines: 22.0% increase in gross property income, which is the strongest performance over the last 5 years  16.8% increase in investment property valuation Property acquisitions of £9,480,000 (net of costs) and disposal […]

22 Mar 2018

Regional REIT NAV falls on dilutive share issuance and debt refinancing costs

Regional REIT NAV falls on dilutive share issuance and debt refinancing costs – Regional REIT has published its results for the year ended 31 December 2017. Its EPRA NAV fell to 105.9 from 106.9p, predominately due to the issuance of two tranches of new equity and debt refinancing costs. EPRA EPS rose to 8.1p from 7.7p. They declared dividends […]

21 Mar 2018

Impact Healthcare REIT delivers small NAV uplift

Impact Healthcare REIT delivers small NAV uplift – Impact Healthcare REIT has published results for the period ended 31 December 2017. It made a 7.19% EPRA NAV total return for the period from the IPO to 31 December 2017, compared to 10.79% for the EPRA/ NAREIT UK REITs Index. The NAV was 100.65p per share as at […]

21 Mar 2018

Empiric Student Property NAV slips on over distribution

Empiric Student Property NAV slips on over distribution – Over the course of 2017, Empiric Student Property’s EPRA NAV fell from 106.2p to 104.5p. The portfolio value at 31 December 2017 was £890.1m. EPRA earnings per share rose from 0.4p to 0.7p, still well short of the 5.55p of dividends that they declared (and their 6.1p target) and this hit […]

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