Stenprop has acquired 100 industrial units in five separate transactions for an aggregate price of £16.7m, as it continues its portfolio transformation into fully focused multi-let industrial (MLI). The biggest estate in the portfolio bought by Stenprop is the Hillfoot Industrial Estate in Sheffield. It paid £10.2m for the 81-unit scheme, reflecting a net initial yield of 6%. The total […]
In QuotedData’s other news 20 September 2019 – Tufton Oceanic Assets today announced that it has raised gross proceeds of $31m through a placing. The company invests in a portfolio of secondhand commercial sea-going vessels. Further to announcements made earlier this month with regard to a proposed placing, Merian Chrysalis says that indicative orders significantly in excess of […]
US Solar reports inaugural interim results – US Solar Fund (USF) has reported inaugural interim results to 30 June 2019, with highlights including: Highlights to 30 June: In April 2019, the company listed on the premium segment of the London Stock Exchange, raising gross proceeds of $200m, primarily from UK institutional investors; 1H19 interim dividend of 0.41 […]
Middlefield Canadian Income positioned to benefit from potential Canadian tailwinds – In yesterday’s news coverage, we looked at the looming sale of one of Middlefield Canadian Income’s (MCT) real estate holdings, to Blackstone for the equivalent of $4.7bn (click here to read the story). MCT has this morning reported interim results to 30 June 2019, including: […]
SDCL Energy Efficiency Income in EUR64m Spanish cogeneration deal – SDCL Energy Efficiency Income (SEIT) has struck a deal to acquire a portfolio of cogeneration assets in Spain for around EUR64m. SEIT says that the substantial majority of the portfolio’s revenues are investment grade, with nine operational projects providing in aggregate 125 MW of clean and efficient […]
City of London increases dividend for 53rd consecutive year – City of London Investment Trust (CTY) has reported annual results covering the year to 30 June 2019. CTY delivered an NAV total return of 2.7%, outperforming its market and sector benchmarks, while the dividend was increased (by 5.1%) for the 53rd consecutive year. Performance highlights […]
Middlefield Canadian Income REIT holding in $4.7bn Blackstone deal – One of Middlefield Canadian Income’s (MCT) core holding’s (about 2.5% of NAV), Dream Global REIT (Dream Global), looks set to be acquired after funds managed by Blackstone Group (Blackstone) agreed a cash deal on 16 September, worth the equivalent of $4.7bn. The deal is subject to shareholder approval. […]
UK Commercial Property REIT reported a net asset value total return of 1.9% for the first six months of the year. The company, which is managed and advised by Aberdeen Standard Investments, saw a increase in EPRA earnings per share of 19% to 1.7p compared with the same period last year. It put the rise down […]
In QuotedData’s other news 19 September 2019 Real Estate Credit Investments is placing new stock at 167p – a discount of 0.6% to the closing share price on 18 September 2019 and a premium of 1.8% to the NAV as at 31 August 2019. plus results from Bluefield Solar and UK Commercial Property REIT, deals by Standard Life […]
Special dividend boosts Bluefield Solar – after delivering a good set of results for the year ended 30 June 2019, Bluefield Solar has decided to pay an extra 0.63p per share to investors, on top of the target 7.68p. The target for the current financial year is 7.9p (reflecting UK inflation of 2.88%). Over the […]
Three deals for Standard Life Investments Property Income – Standard Life Investments Property Income Trust has completed three deals. It sold an industrial unit in Milton Keynes for GBP9.3m, (slightly less than the value used in the end June NAV). The property was let to an envelope manufacturing company and the manager says that the sale […]
Symphony invests in eye health – Symphony International Holdings is making an investment in ASG Hospital Private Limited, a full service eye-healthcare provider with operations in India, Africa and Nepal. ASG was co-founded in Rajasthan, India in 2005 by Dr. Arun Singhvi and Dr. Shashank Gang. ASG’s operations have since grown to 33 clinics, which offer […]
In QuotedData’s other news 18 September 2019 – Standard Life Investments Property Income Trust (SLI) has announced its interim results for the six months ended 30 June 2019. During the period, SLI’s NAV total return was 2.7% for the period ended 30 June 2019, which was generated by like for like portfolio growth combined with profits […]
WeWork shelves IPO plan – WeWork has postponed its multi-billion IPO after failing to attract enough support from investors. The US co-working giant is now planning to complete its float by the end of this year. The move follows a call last week from its largest investor Softbank to shelve the listing. WeWork had aimed to […]
Gulf Investment Fund (GIF) has announced its annual results for the year ended 30 June 2019. During the year, GIF’s NAV per share rose by 12.7% to US$1.3504 which compares with a gain of 8.2% in the S&P GCC composite index and a fall of -1.40% in the MSCI Emerging Markets Index. Following a narrowing […]
Witan (WTAN) has announced that, following a review of its performance benchmark, it will tweak the allocation from January 2020. The effect be to give the benchmark a more global bias. In summary, the new benchmark will be 15% UK (FTSE All Share Index), which with previously 30%; and 85% Global (FTSE All World Index), […]
Safestay (SSTY) has announced that it has agreed to acquire the freehold of its fifteenth hostel, currently operating as ‘Best Western Glasgow City Hotel’, for £3.15 million. The property is freehold and, in the 12 months to 31 January 2019, generated revenues of £0.82 million. Completion of the acquisition is expected to take place on […]
Great Portland Estates (GPE) has announced that it has agreed a 82,000 sq ft flexible office partnership arrangement with Knotel at City Place House, 55 Basinghall Street, EC2. Knotel will operate the space until the building’s redevelopment in December 2021 and, together, GPE and Knotel will share the revenue generated by the businesses in occupation. […]
Warehouse REIT (WHR) has announced that it has purchased an eight asset fully-let portfolio of reversionary warehouse and distribution assets, from Aviva Investors, for £70 million. Producing an annual rent of £5.38 million, the purchase price reflects a net initial yield of just over 7%. An additional deferred payment of up to £5 million is […]
RDI REIT (RDI) has announced that it has exchanged contracts with Volksbank eG Braunschweig Wolfsburg to sell its Bahnhof Center in Altona, Hamburg for €91.0 million. The sale price reflects a net initial yield of 4.6% and a 9.6% premium to the 28 February 2019 market value. The Disposal is expected to complete on 31 December […]
Merian Chrysalis planning £100m+ capital raise – Merian Chrysalis, the UK-focused unquoteds investor, announced on 10 September 2019 that it intends to raise new capital under the its placing programme, to the amount of more than £100m in the form of new ordinary shares. MERI has now announced that the placing price will be 120p […]
P2P Global Investments changes name to Pollen Street Secured Lending – P2P Global Investments (P2P) announces that it has resolved to change the name of the company to Pollen Street Secured Lending plc, with immediate effect. The change in company name had been approved by the board and the company’s shares will trade under the new name on […]
Picton updates on portfolio activity – Picton has completed 20 asset management initiatives since its June net asset value (NAV) update. Progress has been made across all sectors including lettings, lease renewals, regears and rent reviews. These have a combined annual rent of £2.4m and were agreed on average 4% ahead of the June 2019 […]
BMO Commercial Property Trust reports interims in tough climate – BMO Commercial Property Trust (BCPT), formerly F&C Commercial Property Trust, has reported interim results to 30 June 2019. The company invests in a number of sectors, including industrial warehouses, office buildings, retail and student housing. The company also has the mandate to invest upto 15% of […]
In QuotedData’s other news 17 September 2019 – Civitas Social Housing, announced the appointment of Liberum Capital Limited as joint corporate broker to act alongside Cenkos Securities PLC, the company’s existing corporate broker. PRS REIT, the new build private homes investors, provided a trading update covering the two months to end-August 2019, since the end of its […]
Baillie Gifford Shin Nippon reports interims with sterling weakness boosting returns – Over Baillie Gifford Shin Nippon’s (BGS) interim results period to 31 July 2019, sterling-based investors benefited from the currency’s weakness against the Japanese yen, despite sluggishness in the Japanese equity market. The company’s NAV rose 15.3% compared to a 9.8% rise in the MSCI Japan […]
Primary Health Properties announces €70m secured note issue – Primary Health Properties (PHP), a leading investor in modern primary healthcare facilities in the UK and Ireland, has announced that a wholly owned subsidiary has issued new senior secured notes for a total of €70m at a fixed rate of 1.51% with a maturity of 12 years. The […]
Target Healthcare REIT has a good year – Target Healthcare REIT (THRL) has reported final results, covering the period to 30 June 2019. NAV total return for the year came in at 8.1%; on an annualised basis the number is 7.9% since launch. Annualised share price total return for the same period has been 8.2 per […]
In QuotedData’s other news 16 September 2019 – GCP Student announced confirmation from FTSE Russell that the company will be added to the FTSE 250 Index from 18 September 2019. AVI Japan Opportunity.released its first interim report since its launch in October 2018. In the few months since launch until the 30 June 2019, its NAV per […]
Adamas Finance Asia updates on its largest holding – Adamas Finance Asia (ADAM), the pan-Asian diversified investment company, has provided an update on its investment in Future Metal, which was previously known as Hong Kong Mining Holdings. ADAM holds an 85% shareholding in Future Metal, representing ADAM’s largest investment by value in the portfolio. ADAM […]
