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Real Estate News

This sector includes mortgage companies, property management companies and REITs

12 Dec 2018
Blake Nixon Axa property Trust APT

Axa Property Trust saga continues

AXA Property Trust (APT) has announced that it has received a “Member’s Requisition of an Extraordinary General Meeting” or, in other words, a request for an EGM. APT says that requires that a general meeting of the Company be convened, at the earliest opportunity, for the purpose of considering and voting on the following resolution: […]

11 Dec 2018
Triple Point Social Housing fully invested and ready to expand again

Triple Point Social Housing acquires 24 supported housing properties

Triple Point Social Housing REIT has announced that it has completed the acquisition of 24 supported housing properties, comprising 143 units in total, for an aggregate commitment of £24.15m (excluding costs). The properties are located in the North East (20 units), the East Midlands (62 units), the West Midlands (8 units), the South East (9 […]

11 Dec 2018

MedicX is making progress and achieving notable milestones

MedicX Fund (MXF) has announced its final results for the year ended 30 September 2018. The company describes it as, “Another year of strong performance, reflecting progress and achieving notable milestones”. Financial highlights The announcement highlights the following from the financial results: 11.4% increase in EPRA earnings per Ordinary Share, from 3.5p per share to […]

10 Dec 2018

Local Shopping REIT makes significant progress with property disposal programme

The Local Shopping REIT has announced its final results for the year ended 30 September 2018. During the year, the Company made a loss of £7.15m (2017 loss £0.86 million) on an IFRS basis but made significant progress with its property disposal programme. As at 30 September 2018, the company’s portfolio was valued at £22.3 […]

07 Dec 2018

Standard Life Investments Property Income lets Swandlingcote logistics unit

Standard Life Investments Property Income Trust (SLIPIT) has announced that it has completed the letting of its largest vacancy, a logistics unit Swadlingcote, Derbyshire. The trust has also announced the sale of a unit at Broadway Business Park in Oldham and a letting at Monck Street in London. The Swandlingcote logistics unit The 141,000 square […]

07 Dec 2018

Land Securities buys Lavington Street site, adding to Southwark exposure

Land Securities has announced that it has purchased a 1.6 acre site in Lavington Street, SE1 for £87.1m. The purchase, from a private company, increases Land Securities presence in Southwark. Colette O’Shea, Managing Director of Land Securities London Portfolio, said: “This acquisition gives us great potential in a submarket in which we have deep experience. […]

05 Dec 2018

Civitas issues update on Westmoreland

Civitas issues update on Westmoreland – Following the publication of the recent investment adviser’s update commentary on 30 November 2018 (which we referred to in our article), Civitas Social Housing is now providing shareholders with a further update with respect to Westmoreland. Update on Westmoreland As at today’s date, 5 December 2018, Westmoreland represents 22.6% of […]

05 Dec 2018

Tritax Big Box issues £400m loan notes

Tritax Big Box issues £400m loan notes – Tritax Big Box REIT has signed an agreement with a number of new institutional investors for a private placement of £400 million new senior unsecured loan notes. The loan notes comprise two tranches with a weighted average coupon of the fixed rate notes equating to 2.91 per cent. […]

04 Dec 2018

Highcroft sells Southampton warehouse

Highcroft sells Southampton warehouse – Highcroft Investments has announced the sale of its long leasehold interest in a property on the Nursling Industrial Estate, Southampton. The property comprises a warehouse unit of 25,300 sq ft, on a 1.45 acre site. It is occupied by Metabo (UK) Ltd on a lease expiring in September 2020 producing an […]

03 Dec 2018

Westmoreland rated V3G3 but Triple Point says impact minimal

Westmoreland rated V3G3 but Triple Point says impact minimal – Triple Point Social Housing REIT has made an announcement following the Regulatory Judgement published today by the Regulator of Social Housing in relation to Westmoreland Supported Housing Association. Westmoreland, a registered provider focused on the supported housing sector, has 1,379 social housing units under management and […]

03 Dec 2018

Another strong year Schroder European Real Estate

Schroder European Real Estate (SERE) has announced its final results for the year ended 30 September 2018. SERE’s Chairman, Sir Julian Berney Bt., has described it as “another strong year that has seen SEREIT delivering growth in both net asset value and income”. He says that this was chiefly underpinned by the profitable disposal of […]

30 Nov 2018

Impact Healthcare will have no further fundraising in 2018

Impact Healthcare will have no further fundraising in 2018- Impact Healthcare REIT (IHR) will not have any further fundraising in 2018 after they have decided that they no longer wish to acquire a portfolio of UK care homes consisting (announced of 24 October 2018) of 2,500 beds. The company has not announced why they no […]

30 Nov 2018

PRS REIT has acquired development site

PRS REIT has acquired development site – PRS REIT (PRSR) has announced today that they have purchased four new development sites. Two of the sites will be acquired immediately and, for the other two, PRS has entered into a forward funding arrangement. The four acquisitions combined represent a total of 464 new family rental homes […]

29 Nov 2018

Possible takeover of Intu is withdrawn

Possible takeover of Intu is withdrawn- Intu Properties (INTU) has announced that the consortium of Peel Group, the Olayan Group and Brookfield Property Group have decided that given the current macroeconomic conditions and the potential near term volatility across markets the offer has been withdrawn. Intu’s shares have dropped by 40% over the course of […]

27 Nov 2018

Shaftesbury resilient to Brexit slowdown

Shaftesbury resilient to Brexit slowdown – Shaftesbury PLC owns a 15-acre portfolio in the heart of London’s West End. It says “The West End’s global appeal and resilient, broad-based economy provide considerable insulation from headwinds affecting the national economy and consumer confidence“. For the year ended 30 September 2018, it reports: EPRA NAV of GBP9.91 (2017: […]

27 Nov 2018

Phoenix Spree Deutschland agrees lower management fees

Phoenix Spree Deutschland agrees lower management fees – Phoenix Spree Deutschland Limited has entered into a new property advisory and investor relations agreement with PMM Residential Limited. The new agreement replaces the existing property advisory agreement. It will reduce future management fees and result in significant cost savings: Based on the EPRA NAV as at 30 June […]

26 Nov 2018

Tritax Big Box confirms Littlebrook planning approval

Tritax Big Box confirms Littlebrook planning approval – Tritax Big Box REIT owns 114 acres of prime London development land at Littlebrook, Dartford, within the M25, which was acquired in July 2017. It has successfully secured planning permission from Dartford Borough Council for the proposed development of a 450,240 sq ft cross-docked logistics facility with […]

23 Nov 2018

Aberdeen Standard European Logistics buys in France

Aberdeen Standard European Logistics buys in France- Aberdeen Standard European Logistics Income PLC (ASLI) acquires a high quality logistics warehouse in Meung-sur-Loire, France. The total value of the acquisition is €23.5 million which will provide Aberdeen Standard a net initial yield of 4.7%. Contracts will become unconditional by no later than 22 January 2019. The […]

23 Nov 2018

ReSI outperforms its expectations

ReSI outperforms its expectations- Residential Secure Income plc (“ReSI”) (RESI) outperforms its expectations for the year since its IPO in July 2017. The NAV total return for the year was 9.5% which exceeded the 8%+ target set at IPO. This was driven by 7.0% uplift in portfolio valuation to £225.2 million compared to their acquisition […]

22 Nov 2018

Intu Properties updates on possible takeover

Intu Properties updates on possible takeover- Intu Properties (INTU) announced that there is currently a consortium of companies that are currently in the process of trying to put a cash offer together for Intu. The consortium consists of the Peel Group, the Olayan Group, and Brookfield Property Group. The independent committee formed by Intu decided […]

21 Nov 2018

Tritax Eurobox buys another facility in Hannover

Tritax Eurobox buys another facility in Hannover- Tritax Eurobox (EBOX/BOXE) has exchanged contracts to provided forward funding for a new development of a new cold store and primary distribution facility at Wunstorf, near Hannover Germany. The contract is conditional on receiving the building permit. The development represents an investment of €27.5 million, which gives a […]

13 Nov 2018

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 – 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 […]

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