AEW UK Long Lease REIT has reported a slight dip in its net asset value (NAV) in half-year results to the end of December 2019. The company, which yesterday announced a host of service provider changes, posted a NAV per share of 94.63p for the six months, down from 94.81p at the end of June […]
Hipgnosis Songs (SON) is contemplating a further equity raise under its to fund investments in line with its investment policy, with a view to delivering further value for its shareholders. The company says an to this end will follow in due course. SONG applies for USD quote The company also announced that it has applied to […]
HICL Infrastructure (HICL) has completed the acquisition of the transmission assets associated with the Galloper Windfarm, located off the coast of Suffolk, by Diamond Transmission Partners, a consortium comprising HICL and Diamond Transmission Corporation (a subsidiary of Mitsubishi). The transaction is part of Tender Round 5 of Ofgem’s Offshore Transmission Owner programme. HICL previously announced its status as […]
Gulf Investment Fund (GIF) has delivered a total NAV return of +3.4% over its six-month interim period to end-December 2019, compared with a fall of 1.4% in the S&P GCC Composite Index. The MSCI Emerging Markets Index rose by 5.7% in the same period. The shares rose by 5.0%. Global equity markets ended 2019 near record highs. […]
In QuotedData’s other news 26 February 2020 – Foresight Solar (FSFL) said that following an internal restructuring at Foresight Group, Foresight Group LLP has replaced Foresight Group CI as investment manager to FSFL. The material terms and fees contained in the new management agreement are the same as in the previous agreement with Foresight CI while […]
Following on from the announcement on 18 February (which we covered here), Amedeo Air Four Plus (AA4) has announced that it has completed the sale of two A380-800 aircraft to Etihad Airways, bearing the manufacturer’s serial numbers 233 and 237. The sales included the full repayment of the financing arrangements on both aircraft, including applicable swap […]
AEW UK Long Lease REIT (AEWL) has appointed a new investment adviser following a strategic review. Its current investment management agreement with AEW UK Investment Management will be terminated on 9 April 2020 and will be replaced with an agreement with Mason Owen and Partners. Mason Owen will have prime responsibility for the group’s property […]
Pollen Street Secured Lending (PSSL) is in talks with Waterfall Asset Management over a £675m takeover. PSSL has also announced it has axed its investment management agreement due to governance issues. The possible cash offer for PSSL, which invests in corporate loans and peer-to-peer debt, is at 900 pence per share, representing an 8.7% premium […]
Central London office developer Derwent London reported a 4.8% jump in net asset value (NAV) in impressive full year results. The group’s EPRA NAV per share was 3,958p at the end of December, up from 3,776p a year earlier. Net rental income rose 10.5% to £178m, and the London office landlord and developer produced a […]
Hammerson will cut its dividend for 2020 by almost half to a “sustainable level” as retailer failings continues to impact its business. In full year results, the group said it is expecting the dividend for 2020 to be cut by 46%, from 25.9p in 2019 to 14p. At the end of December, net asset value […]
The Berlin-focused European property company, Phoenix Spree Deutschland (PSDL), which focuses on residential real estate, has released a statement on the new Berlin rent cap (“Mietendeckel”). It became law on 23 February. “The company set out in September 2019 how it plans to adapt its strategy during the period in which the proposed rent controls […]
The UK-focused renewables energy infrastructure fund, Bluefield Solar (BSIF), has reported interim results to 31 December 2019. The company has reported a total NAV return of 6.2% and a total market return of 7.0%. The following extracts are taken from chairman John Rennocks’s report: Introduction “Although lower than the exceptional levels seen in the second […]
In QuotedData’s other news 25 February 2020 – JPMorgan Global Growth & Income (JPGI) delivered interim results to 31 December 2019. Over the period, the company saw a 4.7% total NAV return, which compares with a return of 4.6% from its benchmark (the MSCI All Countries World Index in sterling terms). The slight outperformance was the […]
Estate agent Countrywide is in talks over a possible all-share merger with LSL Property Services, the company has confirmed. The £500m tie-up would bring together two of Britain’s biggest listed estate agents. LSL Property owns Your Move and Marsh & Parsons while Countrywide’s brands include Hamptons International and Gascoigne-Pees. News of the possible merger broke […]
On 16 January 2020 we noted that Henderson Alternative Strategies (HAST) would be seeking approval for a realisation process after little appetite shown for greater illiquid exposure (click here to read more). The company has this published a circular this morning, including a notice of general meeting (to be held on 25 March 2020), setting out […]
Oakley Capital Investments (OCI) has announced that Oakley Capital Private Equity III (Fund III) has reached an agreement to sell a majority stake in atHome Group (atHome), a leading online classifieds and mortgage broking business in Luxembourg, to Mayfair Equity Partners (Mayfair), a UK based buyout and growth capital investor. Following the transaction, Fund III will retain a minority […]
QuotedData’s other news 24 February 2020 – The flexible investments company, UIL (UTL) reported interim results to 31 December 2019. The company noted in the report that following six years of significant rising NAV, its total return performance softened was (4.3%) for the half-year to 31 December 2019. Much of this underperformance is due to stronger sterling, […]
JZ Capital Partners (JZCP), the London listed fund that invests in US and European micro-cap companies and US real estate, has announced that it has now received preliminary appraisals for all its real estate portfolio assets for the valuation period as of February 29, 2020. The appraisals indicate further net write-downs, in reflection of which the […]
Hammerson has exchanged contracts to sell a portfolio of seven retail parks for £400m, as it continues its bid to strengthen its balance sheet. The portfolio sale, which has been acquired by Orion European Real Estate Fund V, and the separate sales of two other retail parks in Swansea and Belfast totalling £55m, represents a discount […]
BB Healthcare expanding rapidly – BB Healthcare has announced results for the year ended 30 November 2019. Over that period, the trust lagged its benchmark, returning 6.6% in NAV terms and 6.9% in share price terms against 8.6% for the MSCI World Healthcare Index. However, the board is focusing on the trust’s three year numbers – […]
In QuotedData’s other news 21 February 2020 RDL Realisation looks set to get $13,483,500 from Princeton. The bankruptcy trustee has come up with a plan that all the creditors have agreed to. There is a court hearing scheduled for 13 March to approve this and then the money would be due, in cash, by about the […]
Regional REIT has announced it is considering an equity fundraise “to take advantage of its growing near term pipeline of accretive growth opportunities in the investment market”. The fundraise, the group said, would “further de-risk the portfolio by sector, region, and tenant type, whilst providing asset management potential”. Regional REIT’s portfolio has grown over the […]
NextEnergy cuts NAV on power prices – NextEnergy Solar has published its end December NAV and it is 4.6% lower than the value at the end of September. The NAV has fallen from 111.2p to 106.1p and the biggest contributor to this is lower power price assumptions – accounting for -3.9p. This follows a pattern […]
Greencoat buys Slieve Divena II – Greencoat UK Wind has agreed to acquire Slieve Divena II wind farm from SSE Renewables for £51m. Slieve Divena II is located approximately 10 miles south east of Omagh in County Tyrone, Northern Ireland, and has a capacity of 18.8MW. Slieve Divena II was constructed by SSE Renewables and has […]
Brunner sees benefit of debt repayment – over the year to the end of November 2019, Brunner outperformed its benchmark, returning 13.2% against 12.6%. Revenue earnings rose 10.1% to 21.7p and the dividend was increased by the same percentage, hitting 19.98p. A big contributor to the earnings and capital performance was the much lower costs […]
In QuotedData’s other news 20 February 2020 Hadrian’s Wall Secured Investments (HWSL) has served notice on Hadrian’s Wall Capital Limited to terminate its investment advisory agreement, this will take effect in 12 months. This is tied up with the decision to wind up the fund taken recently. India’s Supreme Court has ruled in favour of Alpha […]
Amedeo Air Four sells two A380s – In a surprise move, Amedeo Air Four Plus has announced that is selling two A380-800 aircraft bearing manufacturer’s serial numbers 233 and 237 to Etihad Airways PJSC. After repayment of the current financing arrangements on the aircraft, the determination of swap breakage and facility prepayment costs together with transaction costs, […]
Nippon Active Value IPOs with £103m – the trust had been hoping for £200m but, after a small delay, managed to get to £103m, which the board felt was enough to get going. The trust is competing in the listed space with AVI Japan Opportunity but, in practice against a large range of well-resourced hedge […]
Supermarket Income REIT has acquired a Sainsbury’s store in Hessle, East Riding of Yorkshire, for £34m, reflecting a net initial yield of 5.5%. The 50,000 sq ft store is let to Sainsbury’s on an unexpired lease term of 14 years with annual inflation-linked uplifts. As well as the 1980s-built supermarket, the site 13-acre site also […]
A great year for Herald shareholders – over 2019, investors in Herald Investment Trust made returns of 37.7%. 27.5% of that came from the NAV return and the rest from a narrowing of the trust’s discount from 17.8% to 11.3%. The report says that over the same period the Numis Smaller Companies Index (of UK […]
