This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 10 May 2022: Sadly, we have to report the death on 4 May 2022 of Robin Angus. “It is with great sadness that the board of Personal Assets Trust announces that Robin Angus, who was the company’s executive director until his retirement in September 2020, passed away on 4 May 2022. […]
Shaftesbury and Capital & Counties Properties have confirmed that they are in advanced discussions regarding a possible £3.6bn all-share merger of the two companies. The merger would create a REIT focused on the West End of London with a portfolio of 2.9 million sq ft of lettable space across Covent Garden, Carnaby, Chinatown and Soho. […]
Life Science REIT has acquired a London office building for £85m as it continues to build its portfolio following launch last year. The group has bought 7-11 Herbrand Street, which is located close to University College Hospital and University College London in London’s Knowledge Quarter of Bloomsbury, King’s Cross and St Pancras, at a net […]
Amazon’s gloomy earnings call last week has taken the wind out of the sails of some of the biggest listed property companies focused on logistics. The profit warning and caution on online sales growth saw 12.7% and 12.6% wiped off SEGRO’s and Tritax Big Box REIT’s market cap in a week (Thursday 28 April to […]
Derwent London has exchanged contracts to acquire the freehold of City Road Island EC1, the site of the Moorfields Eye Hospital and the UCL Institute of Ophthalmology, for £239m. The site is being sold by Moorfields Eye Hospital NHS Foundation Trust and UCL, together the Oriel joint initiative, and is subject to receipt of final […]
In QuotedData’s morning briefing 5 May 2022: HydrogenOne Capital Growth (HGEN) says that Roger Bell is stepping down with immediate effect from its board. He will not be seeking election at the company’s first AGM on 24 May 2022. Roger was the representative of INEOS UK E&P Holdings Limited (INEOS Energy) on the board. Changes […]
In QuotedData’s morning briefing 3 May 2022: BlackRock Energy and Resources Income (BERI) is asking shareholders for permission to issue more shares after an upsurge of interest in the trust meant that it has already issued all the shares that it was given permission to at the last AGM. Blackstone Loan Financing (BGLF) generated a […]
In QuotedData’s morning briefing 29 April 2022: Gulf Investment Fund says that all assets in its tender pool have been sold. As at 27 April 2022, the final tender offer asset value was $11,284,711, giving a tender price of $2.1639. The 5,214,956 tendered shares will be cancelled. It is expected that the proceeds payable to […]
Standard Life Investments Property Income Trust delivered a NAV total return for 2021 of 28.6%, outperforming the AIC UK Property – Commercial peer group average of 17% and the open-ended commercial property funds sector of 9.6%. As valuations recovered over the course of 2021, from the depths of the pandemic, the group’s NAV increased 23.2% […]
In QuotedData’s morning briefing 28 April 2022: Downing Renewables Infrastructure (DORE) says that recent additions to the portfolio (the Swedish wind asset and the Swedish hydropower portfolios) are expected to add around 3.7p to its NAV. These increases are due to operational and capital efficiencies as a result of the integration of the assets, particularly […]
In QuotedData’s morning briefing 26 April 2022: NextEnergy Solar Fund (NESF) has selected North Norfolk solar farm as the site for its first co-located battery storage project. The existing 11MW solar farm will sit alongside a 6MW/12MWh battery system. Planning permission for the co-located battery system has been secured, with construction expected to commence on […]
The Master Investor Show is the UK’s leading event for private investors. The 2022 event, hosted on 19 March 2022 in London, featured presentations from renowned investment experts and corporations, as well as a wide variety of exhibiting companies covering all asset classes and services relevant to private investors. QuotedData joined the Master Investor Show […]
Urban Logistics REIT has bought a further £45m of assets as it continues to deploy the funds of its December 2021 fundraise. The company has acquired the East Midlands Logistics Hub for £40.7m at a net inital yield of 6.8%. The property consists of a 72-acre site with four logistics units totalling more than 670,000 […]
British Land has agreed a deal to sell a 75% stake in its Paddington Central assets to GIC for £694m. The transaction establishes a new joint venture with ownership split 75:25 for GIC and British Land respectively. The price paid is 1% below September 2021 book value and represents a net initial yield of 4.5%. […]
abrdn European Logistics Income has reported NAV total return in 2021 of 12.4%, as the European logistics sector continues to benefit from a supply-demand imbalance. The group’s NAV increased 7.5% to €1.29 per share, while it paid out dividends in the year of 5.64 euro cents. IFRS earnings were 15.4 euro cents per share for […]
Warehouse REIT has exchanged contracts to acquire an industrial estate in Milton Keynes for £62m, reflecting a net initial yield of 4%. The multi-let Bradwell Abbey Industrial Estate totals 335,000 sq ft across 69 units and is located just off the A5, and close to the M1 motorway. The estate is currently 96% let to […]
In QuotedData’s morning briefing 21 April 2022 the news is dominated by annual results, but we also have: An unusual advance on the sale proceeds of Infrastructure India’s (IIP) wind farm assets – the buyer AVSR Constructions is supposed to pay INR 550m (approximately £5.5m), but the seller is yet to satisfy all the conditions […]
BMO Commercial Property Trust will change its name to Balanced Commercial Property Trust following the sale of its manager’s business from Bank of Montreal (BMO) to Ameriprise Financial, parent company of Columbia Threadneedle. The announcement was made in the group’s annual results where it delivered a net asset value (NAV) total return for 2021 of […]
In QuotedData’s morning briefing 19 April 2022: Baker Steel Resources (BSRT) reports that its NAV total return for 2021 was 1.2%, behind the 5% return on its EMIX Global Mining benchmark. Although two core investments, Tungsten West and Silver X listed during the year, it did not monetise either of these investments and therefore did […]
Impact Healthcare REIT has recently exchanged contracts to acquire three purpose-built care homes in and around Glasgow. The homes are let to Silverline, which was already a tenant in the portfolio. The purchase price is £8.1m (plus transaction costs). The initial annual rent has been agreed at £627,750, reflecting an accretive gross initial yield of […]
UK Commercial Property REIT’s results for 2021 show the company generating an NAV return of 21.5% for the year (well up on 2020’s -0.9% following the effects of COVID). A 21.4% return on the portfolio was well ahead of the 16.8% return generated by the company’s MSCI benchmark. Returns were helped by much better rent […]
In QuotedData’s morning briefing 14 April 2022: Jupiter Emerging and Frontier Income Trust’s (JEFI) board has looked at the candidates available for a rollover option and decided not to offer any of them. Shareholders will receive cash instead. A proposal to wind up the company will be put to a vote shortly – expect to […]
In QuotedData’s morning briefing 13 April 2022: ICG Enterprise Trust notes that New Mountain Capital is merging Information Resources Inc., which the trust holds and invested $15m into in 2018, with The NPD Group, a global provider of market information and advisory services, with a client base of over 2,000 companies, in Hellman & Friedman’s […]
In QuotedData’s morning briefing 12 April 2022: Diverse Income Trust is asking shareholders whether they want to take advantage of its annual share redemption facility. However, as the announcement points out, the discount is already narrow. Shareholders have until 3 May 2022 to submit redemption requests. Cash would hit accounts on 16 June or thereabouts. […]
With everything else going on, it feels like the topic of ‘net-zero’ has been pushed down the agenda. However, with new legislation due to come through on the energy efficiency of commercial property, landlords may be sitting on a ticking time-bomb. The government has set a target of lifting the minimum energy performance certificate (EPC) […]
Supermarket Income REIT has announced its intention to raise £175m through a placing. The issue price of 121p is a discount of 4.3% to last night’s closing price of 126.5p and a 7.1% premium to its last reported EPRA NTA of 113p on 31 December 2021. The company’s investment adviser, Atrato Capital, has identified a near-term […]
In QuotedData’s morning briefing 7 April 2022: Augmentum Fintech (AUGM) is getting a boost from a series C financing round for Grover (a Berlin-based consumer tech platform). Grover has raised $330m in equity and debt. Augmentum will write up the value of its stake by £24.1m (more than double – Augmentum first invested in Grover […]
Palace Capital said it was set to up its dividend following good performance, but added that it was considering a range of strategic options, including returning capital to shareholders, as it looks to close its discount to net asset value (NAV). The group added an additional £1.9m of annualised net rental income during the year […]
In QuotedData’s morning briefing 5 April 2022: Digital 9 Infrastructure (DGI9) has completed the acquisition of Leeson Telecom (Host Ireland), a leading enterprise broadband provider in Greater Dublin. The purchase price was about €60m. Host Ireland owns and operates the highest capacity licensed microwave-based Fixed Wireless Access network in Greater Dublin. It provides high quality, […]
In QuotedData’s morning briefing 31 March 2022: HICL Infrastructure plans to sell its 100% interest in the Queen Alexandra Hospital PFI Project to InfraRed European Infrastructure Income Fund 4. HICL would get £108m and a 1.5p increase in its NAV. The hospital has over 7,200 staff and 1,200 beds, that serves over 675,00 residents across […]
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