Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).
RDI REIT (RDI) says letting activity has been positive and it is continuing to make progress with its strategic disposal programme. The company’s CEO, Mike Watters, noted: “Our asset management team has delivered a number of letting successes, reflecting our ongoing focus on maximising the potential of our core portfolio. Within our non-core portfolio, we are […]
Hipgnosis Songs (SONG) has this morning announced that it has invested £214m of the proceeds of its C share fundraising from October 2019, representing around 95% of the net proceeds of the fundraise. SONG intends to convert the C shares (Ticker: SONC) into Ordinary Shares (Ticker: SONG) with the conversion ratio expected to be announced on […]
Biotech Growth tops bio-trust league with 47% NAV rise – Orbimed-managed Biotech Growth Trust (BIOG) recorded the rise 47% rise in NAV in 2019, representing the best performance of the 14 specialist biotech/pharma closed end investment vehicles monitored by Marten & Co. Biotech Growth’s rise in NAV was more than double that of the benchmark […]
Great Portland Estates has exchanged contracts to sell a central London office let to Kurt Geiger for £64.5m. The sale of 24/25 Britton Street, which is located in the City fringe area, to an overseas investor reflects a net initial yield of 4.07% and a capital value of £1,255/sq ft. It was also sold at […]
In QuotedData’s other news 10 January 2020 Ground Rents Income Fund has refinanced its debt, reducing its overall interest cost from 3.37% to 2.76%, increasing the loan to value covenant on its debt from 40% to 45% (giving it more headroom to borrow if it chooses – the current loan to value ratio is 24%) and […]
Standard Life Private Equity gets new lead manager – the board of directors has agreed with the manager to some changes in the investment team looking after this trust. Alan Gauld will become the lead manager with immediate effect. Alan has been part of the team responsible for the company since 2017. He has been a […]
Emile Haynie catalogue latest for Hipgnosis – Another day, another catalogue acquisition by Hipgnosis Songs Fund. Today it is the turn of Emile Haynie, “an award-winning American producer who has collaborated on some of the most iconic hip hop and pop albums of all time“. In 2009 and 2010, Emile Hayne collaborated as an executive producer […]
Stephen Anness takes on Perpetual Global Equity – Invesco Perpetual Select Trust says that Stephen Anness has taken on the responsibility as lead manager for its Global Equity Income portfolio. Based in Henley, Stephen joined Invesco in 2002 to work in the UK equities team and moved on to manage global equity portfolios in 2012. Stephen now […]
In QuotedData’s other news 8 January 2020 – Invesco Perpetual Select (IVPG) announced a manager change with Stephen Anness taking on the responsibility as lead manager for the company’s global equity income portfolio. The company noted that Stephen joined Invesco in 2002 to work in the UK equities team and moved on to manage global equity […]
CLS Holdings, the UK, France and Germany focused property company, has exchanged contracts to acquire an office building in Staines for £19m. It has bought ‘TWENTY’ Kingston Road, which comprises 44,230 sq ft of grade A, multi-let office space, for a net initial yield of 5.3%. The asset is currently let to four tenants with a WAULT […]
Real Estate Investors (RLE) has released a trading update with CEO Paul Bassi, commenting, “Despite high levels of economic and political uncertainty creating a relatively static market in 2019, we have increased our revenues and covered our dividend payments, with contracted rents rising to £17.66m, up 3.85% over the year. Looking ahead into 2020, we anticipate […]
FastForward Innovations (FFWD) invests in disruptive high growth technology and life sciences businesses. The company has this morning announced that it has completed the sale of its entire holding of debentures in Canada’s Cryptologic (formerly Vogogo) for around C$1.5m. Cryptologic seeks cannabis pivot As per announcements made by Cryptologic in August and September of 2019, Cryptologic, is seeking to […]
In QuotedData’s other news 7 January 2020 Standard Life Investments Property Income Trust (SLIPIT) has completed the sale of a single let office building in Staines. The 26,300 square foot building was sold for a net price of £10.7m, reflecting an equivalent yield of 5.7%. The property had recently been relet after SLIPIT took a surrender […]
Triple Point Social Housing adds 4 supported living properties – Triple Point Social Housing (SOHO) has completed the acquisition of 4 supported housing properties, totalling 41 units in total, for around £6.3m (excluding costs). The properties are located in Yorkshire (35 units) and the East of England (6 units). The company has entered into new full […]
Hipgnosis Songs (SONG) has acquired a music catalogue from Tom DeLonge, an American musician, singer, songwriter, producer, and co-founder of one of the millennium’s most popular bands, Blink-182. SONG has acquired 100% of Tom DeLonge’s copyrights on this catalogue which consists of 157 songs. Tom DeLonge achieved great success as guitarist and vocalist of pop punk […]
In QuotedData’s other news 6 January 2020 – Global-focused Witan (WTAN) Witan has introduced a revised performance benchmark with effect from January 2020. The benchmark is now 15% UK equities and 85% Global equities. The effective UK benchmark weight will be approximately 19% since, in addition to the specified 15% in the UK, the global […]
Urban Logistics REIT (SHED) has provided an update on its pipeline of acquisitions. SHED says that its manager, Pacific Capital Partners Limited, has significant experience in sourcing quality properties off-market with opportunities for significant value creation. It constantly reviews the market for potential investment opportunities and has identified a large pipeline of high-quality logistics properties […]
Sirius Real Estate (SRE), which operates business parks providing conventional and flexible workspace across Germany, has completed the acquisition of two business parks for total of €33.4m. The company has bought Neuss II, a business park near Düsseldorf, and Neuruppin business park, in the Brandenburg region, reflecting an aggregate EPRA net initial yield of 6.8%. […]
Riverstone Energy (RSE) is amending its performance allocation arrangements, as follows: Portfolio level cost benchmark: A performance allocation will only be distributed in respect of a realised investment if, at the time of the realisation of the relevant investment, the aggregate of the fair market value of all of the company’s then unrealised investments and […]
Augmentum Fintech (AUGM), the fintech-focused trust, has made a £7.5m investment in Receipt Bank, the UK-headquartered digital bookkeeping platform. AUGM’s investment is part of Receipt Bank’s £55m series C fundraising, led by Insight Partners, with participation from exisiting investors Kennet Partners and Canadian Imperial Bank of Commerce (CIBC). Receipt Bank one of the 50 fastest […]
Regional REIT has acquired an office asset in one of Scotland’s premier business parks for £10.3m. The office asset comprises 43,676 sq ft over three floors, currently 100% let to John Menzies, an international aviation business and one of Scotland’s largest companies. The current contracted rent of £880,000 a year provides a net initial yield […]
CLS Holdings has sold a portfolio of government-let regional offices in the UK for a total of £65m to Elite Capital Partners – a Singaporean investment firm. The 19 offices are located across the UK outside of the South East and, following major lease re-gears last year, have less active asset management potential. The group […]
In QuotedData’s other news 2 January 2020 – Infrastructure India (IIP) announced that Tim Walker, a non-executive director of the company, will step down from the Board on 31 March 2020. We also have news of a completed battery-only investment by Gresham House Energy Storage and portfolio announcements by Regional REIT and CLS Holdings.
Gresham House Energy Storage Fund (GRID) has announced has completed its investment in the 49MW battery-only project known as Red Scar. The Project, which is located on the Red Scar Business Park, by the Longridge Road and the M6 outside Preston, was acquired for a total enterprise value of approximately £32.8m (inclusive of £1.0m of […]
Symphony International Holdings has entered into binding agreements to sell land at the Niseko ski resort, in Japan, and form a new joint venture to co-develop part of the land with Hanwha Hotels & Resorts. As initally announced on 30 August 2019, Niseko Property Joint Venture (NPJV), which Symphony holds a 37.5% interest in, will sell […]
SDCL Energy Efficiency Income Trust (SEIT), the first UK-listed investment company of its kind to invest exclusively in the energy efficiency sector, has agreed to acquire a 50% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar for an equity cash consideration […]
Regional REIT has announced a series of lettings 3% ahead of the expected rental value (ERV). The six leasing deals, which are spread across the portfolio, amount to a total rental income of £589,856 a year and comprise: A 9,581 sq ft renewal at Star House in High Wycombe to Star Micronics for five years […]
Derwent London has exchanged contracts to sell its long leasehold interest in 40 Chancery Lane for £121.3m. The 103,700 sq ft office and retail building is let to Publicis Group until July 2035, with a tenant break in July 2033, at a net income of £5.5m per annum. The sale price represents a net yield to […]
Tritax EuroBox, which invests in Continental European logistics real estate assets, has acquired a prime newly developed logistics property at Breda, in the Netherlands, for €50.3m. The deal reflects a net initial yield of 4.6%, with the potential to add value through the letting of the vacant units. The property, purpose-built in November 2019, is situated in an […]
GCP Student, the UK REIT focused on student residential assets, has rasied £77m from an over-subscribed placing. It had targeted proceeds of £75m but was boosted by an application in respect of £50m of gross proceeds from APG Asset Management in its capacity as the discretionary manager of various pension funds. A total of 41,365,400 shares […]
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