Real Estate News
This sector includes mortgage companies, property management companies and REITs
This sector includes mortgage companies, property management companies and REITs
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: PRS REIT (0:41) SEGRO / Tritax EuroBox (4:02) Balanced Commercial Property Trust (6:41) Artemis Alpha / Aurora (8:10) JPMorgan Core Real Assets (10:33) Digital 9 Infrastructure (11:51) Andrew McHattie covered: Major rises over the […]
In QuotedData’s morning briefing 5 September 2024: BioPharma Credit (BPCR) says it provided $132.925m of funding to Collegium Pharmaceutical to help fund its acquisition of Ironshore Therapeutics. BioPharma Credit already had exposure to Collegium through a $160.4m term loan. BioPharma Credit’s loans are part of a $645.8m senior secured loan funding package that was put […]
The board of Balanced Commercial Property Trust (BCPT) has recommended a cash offer for the company from Starwood Capital valuing the company at £673.5m. The cash offer, at 96p per BCPT share, represents a premium of 21.5% to its closing price of 79p per share as at 12 April – the last business day prior […]
SEGRO and Tritax EuroBox (EBOX) have announced that their boards have reached agreement on the terms of a recommended all-share offer by SEGRO for EBOX, under which EBOX shareholders will receive 0.0765 new SEGRO shares per EBOX share. Based on the closing price per SEGRO share of 880.0p as at 3 September 2024, the proposed […]
The board of PRS REIT (PRSR) has formed a sub-committee to engage with shareholders and lead its response to the requisition notice published last week calling for chairman Stephen Smith and director David Francis be replaced. The sub-committee comprises the three independent non-executive directors who are not the subject of the requisition, being: Geeta Nanda, […]
LondonMetric Property has acquired £70m of warehouses and sold £50m of non core assets. The £70m of acquisitions consist of seven warehouses with a WAULT of 15 years, acquired at a blended net initial yield of 5.8%, rising to a minimum of 6.1% over the next two years and 6.5% after five years, with 91% […]
Grit Real Estate Income Group, the pan-African real estate company, has provided an update on its non-core asset disposal strategy and progress made on transactions. The company has agreed non-binding heads of terms to sell the Tamassa resort, a Mauritian hospitality asset, at an implied net initial yield of 6.5%. It is also in preliminary discussions […]
In QuotedData’s morning briefing 2 September 2024: Premier Miton Global Renewables (PMGR) has announced a non-material change to its investment objective. It says that its Board has considered the Financial Conduct Authority’s Sustainability Disclosure Requirements (SDR) which come into force on 2 December 2024 and has confirmed that pursuant to the SDR’s voluntary labelling regime, […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: Renewables/infrastructure (0:39, 2:25) Octopus Renewables Infrastructure (1:18) ATS/INOV – Reaction engines (4:34) PRS REIT – Requisition request (5:58) This week’s interview was with James Harries from STS Global Income & Growth Trust – watch […]
PRS REIT (PRSR) has announced that it has received a letter dated 29 August 2024 from Harwood Capital Management Limited, Waverton Investment Management Limited, CCLA Investment Management Limited, Alder Investment Management Limited and CG Asset Management Limited (shareholders of PRSR that hold, in aggregate, 94,025,149 ordinary shares representing c.17.3% of issued share capital), requesting the […]
In QuotedData’s morning briefing 23 August 2024: abrdn European Logistics Income (ASLI) posted a sharp fall in NAV due to the estimated costs of selling off its portfolio as part of the managed wind down of the trust. NAV over the quarter to 30 June was down 4.2% to 87.9 euro cents (GBP – 74.4p […]
In QuotedData’s morning briefing 22 August 2024: Pauline Ng has become an additional named portfolio manager for JPMorgan Asia Growth & Income (JAGI), working alongside co-managers Robert Lloyd and Ayaz Ebrahim. Pauline joined JPMorgan Asset Management in 2005 and is a country specialist for the Association of Southeast Asian Nations (ASEAN) equities and head of […]
In QuotedData’s morning briefing 20 August 2024: Polar Capital Global Financials (PCFT) has been promoted to the FTSE 250 Index, replacing Redrow which has been taken over by Barratt Developments. Triple Point Social Housing REIT (SOHO) has completed the transfer of all 38 properties previously leased to struggling housing association Parasol (representing 9.7% of the […]
In QuotedData’s morning briefing 15 August 2024: Macau Property Opportunities (MPO) has seen a 12.2% slide in its NAV over the quarter ended 30 June 2024. It blames local developers discounting properties to boost their cash flow. It says that it continues to comply with all banking covenants and Loan to Value ratios. Empiric Student […]
In QuotedData’s morning briefing 14 August 2024: Home REIT says that it has reached an agreement with Mansit Housing CIC, a non-performing tenant, for the surrender of its leases on 68 properties. The majority of the properties are occupied by private rented sector tenants on Assured Shorthold Tenancies. This should boost Home REIT’s rental income. […]
In QuotedData’s morning briefing 13 August 2024: Pleasingly, at yesterday’s AGM, NextEnergy Solar Fund’s (NESF) shareholders overwhelmingly backed the company (94:6) to carry on with its existing objective. Syncona’s (SYNC) NAV has slipped again – by 4.9% over the three months ended 30 June. The value of its life science portfolio fell by 8.3% and […]
Assura has agreed a deal to acquire Northwest Healthcare Properties’ UK private hospital portfolio for £500m. To fund the deal for the 14 asset portfolio, the company plans to issue Northwest £100m in shares, refinance £266m of debt, draw down £80m from its revolving credit facility and use £54m of cash. Portfolio overview The portfolio […]
In QuotedData’s morning briefing 8 August 2024: Ashoka India Equity (AIE) has reminded shareholders that its annual voluntary redemption – where shareholders can, if they choose, cash in their shares at NAV – will happen at the end of September. If you want to take part, redemption requests need to be in by 5 September […]
In QuotedData’s morning briefing 7 August 2024: Apax Global Alpha Limited (APAX), announced that it expects to invest approximately €2.5m in greytHR on a look-through basis, a leading full suite human resource management software platform in India. The transaction is due to close in Q3 2024, subject to customary closing conditions. Cordiant Digital Infrastructure Limited […]
In QuotedData’s morning briefing 6 August 2024: Apax Global Alpha (APAX) announced that Thoughtworks, a portfolio company in the Apax IX Fund, in which Apax Global Alpha Limited is a limited partner, has entered into a definitive agreement to be taken private by Apax Funds for $4.40 per share, which implies a total enterprise value […]
At last! The Bank of England’s first cut in interest rates has finally come, marked by a collective sigh of relief for many downtrodden sectors such as property. It may be just a 0.25% cut and a succession of quickfire cuts seem highly unlikely, but it signals a turning point that should bring confidence to […]
In QuotedData’s morning briefing 2 August 2024: Riverstone Credit Opportunities Income (RCOI) has provided an update on its investment in a loan to Harland & Wolff Group Holdings Plc following an announcement by that company. Alongside other credit funds managed by Riverstone, RCOI is co-invested in a US$115m loan to Harland &Wolff, of which RCOI’s […]
In QuotedData’s morning briefing 1 August 2024: Infrastructure India’s (IIP) nominated adviser has resigned. It doesn’t think that it can appoint a replacement. AIM Rule 1 provides it with one month to appoint a replacement nominated adviser. If no replacement nominated adviser is appointed within that timeframe, the admission of the company’s AIM securities will […]
In QuotedData’s morning briefing 31 July 2024: LMS Capital (LMS) announced its interim results for the six months to 30 June 2024. During the period, the NAV return was -13%. Chairman, James Wilson, commented: “The changes to Dacian, whilst resulting in a write down now, we believe have put Dacian on a sound footing going […]
In QuotedData’s morning briefing 29 July 2024: Smithson (SSON) has published interim results for the six months ended 30 June 2024, during which it provided an NAV total return if -1.8%, underperforming the MSCI World SMID Index which returned 3.4%. Its chairman, Diana Dyer Bartlett, says this is frustrating, noting that the last two and […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: Jupiter Green (0:25) Hammerson (6:37) Unite (11:20) This week’s interview was with Henry Butt from AEW UK REIT – watch it again here.
In QuotedData’s morning briefing 26 July 2024: Law Debenture (LWDB) has published its interim results for the six months ended 30 June 2024, during which it provided an NAV total return (with debt and Independent Professional Services (IPS) business at fair value) of 9.7%, and share price total return of 7.7%, both outperforming its All-Share […]
In QuotedData’s morning briefing 25 July 2024: JPMorgan European Discovery (JEDT) has announced a timetable for the first of the tenders that were announced on 20 June. There will be a meeting on 2 September to approve the tender. Forms will need to be in by 3 September, the result of the tender will be […]
In QuotedData’s morning briefing 24 July 2024: Greencoat UK Wind (UKW) announced its interim report for the six months to 30 June 2024. The company saw a NAV total return of -2.9% and a share price total return of -4%. The company declared total dividends of 5 pence per share with respect to the period […]
Unite Group has raised £450m in a placing, with the proceeds earmarked for a number of student accommodation acquisitions and development projects. A total of 49,686,114 new ordinary shares were placed, raising gross proceeds of approximately £447m. Shares were issued at a price of 900 pence, representing a discount of 2.6% to the closing price […]