This sector includes mortgage companies, property management companies and REITs
CLS Holdings, the office landlord with assets in Germany, France and the UK, has posted a 1.5% uplift in NAV in full year results to the end of December 2021. Highlights EPRA net tangible assets (NTA) up 1.5% – primarily due to EPRA earnings and portfolio valuation gains, which were offset by foreign exchange losses […]
In QuotedData’s morning briefing 15 March 2022: ThomasLloyd Energy Impact (TLEI) says that it has received formal approval by the Government of India for the purchase of a 43% economic interest in SolarArise India Projects Private Limited. The deal encompasses seven solar power projects in India with a total capacity of 434 MW. Completion of […]
Property has traditionally been a good inflation hedge, with rental uplifts usually coming in line with inflation. With inflation forecast to hit around 8% next month (and who knows what later in the year) it seems clear that this will not be the case this time. Leases with inflation protection built-in typically come with a […]
Secure Income REIT said it expects significant earnings growth this year due to rising inflation forecasts, after reporting an 11.8% uplift in EPRA net tangible assets (NTA) in full year results to 31 December 2021. The group, which invests in property with long index-linked leases mainly in the healthcare, hotel and leisure sectors, said its […]
In QuotedData’s morning briefing 10 March 2022: ScotGems (SGEM) says that yesterday, it received notice to terminate the investment management agreement from its manager, First Sentier Investors (UK) Funds Limited. The termination will not take effect until a replacement manager is appointed, subject to a maximum period of six months from today’s date. The board […]
British Land has sold 50% of its stake in the Canada Water Masterplan to AustralianSuper for £290m. Following completion of the sale, British Land and AustralianSuper, which is one of Australia’s largest pension funds, will form a 50:50 joint venture to accelerate the delivery of the 53-acre development, which is one of the largest London […]
Unite Students has sold a portfolio of 11 properties, comprising 4,488 beds, for £306m (Unite share: £236m) to an affiliate of Lone Star Funds. The disposal portfolio includes assets in Sheffield (1,700 beds), Reading (703 beds), Leicester (665 beds), Bedford (517 beds), Liverpool (390 beds), Birmingham (337 beds), Bristol (99 beds) and Leeds (77 beds), and […]
Triple Point Social Housing REIT has proposed making changes to its investment policy and investment restrictions. In summary, the company proposes to make the following changes to its investment policy and investment restrictions: Removing the company’s minimum lease term restriction Allowing the company to selectively take on the cost of funding planned maintenance Giving the […]
In QuotedData’s morning briefing 8 March 2022: JPMorgan Global Emerging Markets Income (JEMI) says its exposure to Russian securities amounts to three stocks, which are now valued at 0.25% of NAV (down from 3.6% at the end of January). Crystal Amber’s (CRS) shareholder meeting to approve its new investment strategy and management agreement saw significant […]
Hammerson’s ongoing repositioning efforts have seen losses dramatically fall in full year results to the end of December 2021. The retail group said IFRS loss for the year was £429m against £1,735m the previous year. The loss was largely due to a £470m portfolio valuation fall. The group’s portfolio is now worth £5.4bn, down 7.9%. […]
Tritax Big Box REIT’s development programme turbo-charged returns for the year to 31 December 2021. The group posted impressive gains in earnings, portfolio valuation uplifts and profit in the year. NAV total return for the year was a whopping 30.5%. Adjusted earnings per share was up 14.8% to 8.23p, while the group upped its dividend […]
In QuotedData’s morning briefing 3 March 2022: MSCI has decided to remove Russian securities from its indices. MSCI Russia Indexes will be reclassified from Emerging Markets to Standalone Markets status. The reclassification decision will be implemented in one step across all MSCI Indexes, including standard, custom and derived indexes, at a price that is effectively […]
Workspace Group, the London flexible office provider, has agreed a deal to acquire McKay Securities, the listed property owner focused on offices and industrial in the South East, for £272m. Under the terms of the acquisition, each McKay shareholder will be entitled to receive 209 pence per share in cash and 0.115 new Workspace shares. […]
The logistics property sector can be a safe haven for investors in the face of the uncertainty caused by the war in Ukraine. That was the assessment made by an expert panel at the first leg of QuotedData’s Round the World webinar series focused on Europe. Russia’s invasion of Ukraine has seen heightened market volatility […]
In QuotedData’s morning briefing 2 March 2022: Apax Global Alpha (APAX) has posted its full-year results for the 12 months to 31 December 2021. During the period, its NAV return was 28.7% while a dividend of 12.33p per share was declared for the full year 2021, in line with the stated dividend policy of distributing […]
In QuotedData’s morning briefing 1 March 2022: ICG Enterprise Trust is investing about £13m in Newton Industrial Consultants. The investment is being led by ICG Europe Mid-Market Fund I. ICGT will invest as a limited partner in the fund and also through a direct investment. Newton is a market-leading and fast-growing consulting firm, with a […]
The Board of GCP Co-Living REIT Plc has announced that, in light of the events in Ukraine over the last 24 hours, the decision has been taken to pause the marketing of the company’s initial public offering (IPO) for the time being. However, the company says that its prospectus that was published on 10 February […]
Macau Property Opportunities (MPO) has announced that it has agreed a new investment management agreement with the manager, Sniper Capital, retrospectively effective from 1 February 2022. A management fee of US$100,000 per calendar month for the calendar year 2022 will be payable, following an interim payment of $99,000 in January 2022. Realisation fees will continue […]
Capital & Counties, the Covent Garden landlord, has reported an uptick in leasing momentum after a difficult two years during the pandemic. In full year results to the end of December 2021, the group said strong leasing progress in the second half of the year resulted in a like-for-like increase in the value of its […]
In QuotedData’s morning briefing 17 February 2022: NextEnergy Solar (NESF) continues the recent trend of NAV uplifts in the renewable energy sector with a 1.3p increase in its NAV over the three months ended 31 December 2021. The update that accompanies this announcement promises that more battery projects (developed in conjunction with Eelpower) will be […]
Tritax EuroBox has acquired a pre-let logistics development in Roosendaal, the Netherlands, for €144.26m. The asset is pre-let to a “top four global discount supermarket retail group” and was purchased from Logistics Capital Partners (LCP), one of the company’s main development and asset management partners. The purchase price reflects a net initial yield of 3.5%. […]
In QuotedData’s morning briefing 16 February 2022: The board of Smithson (SSON) has announced that its chair, Mark Pacitti, will retire on 28 February 2022. Diana Dyer Bartlett will become chair of the board and Lord St John of Bletso will replace Diana as chair of the audit committee. Meanwhile, Jeremy Attard-Manche has been appointed […]
Empiric Student Property has acquired a new 92-bed purpose-built studio asset in Bristol city centre for £19.0m, reflecting a net initial yield of 4.75%. The property, which was completed in September 2021, has 100% of the beds let for the current academic year. Empiric has two other operational assets in Bristol (159 beds), with a […]
In QuotedData’s morning briefing 15 February 2022: BioPharma Credit is contributing $325m to the funding of a $650m loan to Collegium Pharamceutical. The company will use the money to support its acquisition of BioDelivery Sciences International – an existing borrower within the BioPharma Credit portfolio. Part of the loan will be funded from the repayment […]
Circle Property has said it plans to sell more assets and return capital to shareholders after selling its largest asset today, as it battles a persistently wide discount to net asset value (NAV). The group has sold Kents Hill Park to LXI REIT for £34.5m. The group said that following completion of the disposal, which […]
LXi REIT has made nine acquisitions for £87m as it continues to deploy the proceeds from its recent £250m equity capital raise. The acquisitions, which have been transacted predominantly on an off-market basis with seven different vendors/developers, reflect a 5.1% net initial yield. The assets: Co-op Group convenience stores The company has acquired three convenience […]
In QuotedData’s morning briefing 11 February 2022: AEW UK REIT (AEWU) has been granted planning consent for the demolition and development of a 527-unit student accommodation scheme at 225 Bath Street in Glasgow city centre, paving the way for the sale of the site to IQ Student Accommodation. The sale of the vacant office scheme […]
In QuotedData’s morning briefing 10 February 2022: Odyssean’s (OIT) response to yesterday’s announcement by Strategic Equity Capital is that it “believes that the SEC Proposals represent a missed opportunity to create a leading and growing, premium investment trust of greater scale differentiated from the wider UK small cap sector.” There’s no indication that it intends […]
In QuotedData’s morning briefing 9 February 2022: NextEnergy Solar (NESF) has announced an interim dividend of 1.79 pence per ordinary share for the quarter ending 31 December 2021, to be paid on 31 March 2022. NESF will also be offering shareholders a scrip dividend alternative to this, with a reference price to be announced on […]
In QuotedData’s morning briefing 8 February 2022, the big news is a planned merger between TwentyFour Income and UK Mortgages. However, we also have: Scottish Investment Trust (SCIN) says its portfolio has now been realigned with that of JPMorgan Global Growth and Income (JGGI), ahead of the merger of the two funds. Trading in Yew […]
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