This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 9 November 2021: AVI Global (AGT)’s asset manager says that “it and three other shareholders collectively owning over 18 per cent. of the ordinary shares requisitioned the [Third Point Investors (TPIL)] board on 2 November 2021 to convene an extraordinary general meeting (EGM) of TPIL at which shareholders will be asked […]
Civitas Social Housing’s net asset value (NAV) has nudged up slightly in the quarter to 30 September 2021. The group reported an IFRS NAV of 108.49p (up from 108.42p on 30 June 2021). New investments have been limited to just one in the quarter, mainly due to an attack on the company by an activist […]
Sirius Real Estate, the German business park owner, has announced a proposed capital raise of £135m to part fund the acquisition of UK flexible workspace provider BizSpace for £245m. Sirius said it believes the acquisition of BizSpace “represents a highly attractive and strategically important opportunity that allows Sirius to enter, at scale, an under-served wider […]
Here at QuotedData we like a company that takes the bull by the horns and gets on with things. So it was good to see two significant announcements this week from Land Securities (Landsec) that certainly shows courage in their convictions. As we reported this week, Landsec announced it had agreed to takeover listed regeneration […]
Industrials REIT has acquired three multi-let industrial (MLI) estates, as it nears its target of being a fully focused MLI REIT by 31 March 2022. The three estates, in Birkenhead, Coatbridge, and Stockton on Tees, have been purchased in separate transactions for a total consideration of £18m, reflecting a blended net initial yield of 7.1% and […]
Urban Logistics REIT has acquired three assets for a total of £29.0m at a blended net initial yield (NIY) of 6.7%, as it continues deployment of its recent equity raise. The assets include two income producing assets providing immediate additional revenue and the forward funding of a development project. As a result Urban Logistics has […]
Derwent London has exchanged contracts to acquire Conoco House and Quadrant House at 230 Blackfriars Road, SE1 in Southwark, for £55.0m. It has bought the 100-year leasehold interest in the property, where the ground rent is fixed at £5,000 per annum. Conoco House, a 1970s office building comprising 60,300 sq ft, is multi-let at a […]
In QuotedData’s morning briefing 4 November 2021: Tufton Oceanic (SHIP) plans to issue up to 28,057,140 shares at $1.39 via a placing. The money raised will be used to fund the purchase of additional ships. The number of shares is 10% of the existing issued share capital. The issue price is 1.4% discount to the […]
Land Securities (LAND) has acquired a 75% stake in MediaCity, the 37 acre media, digital and tech hub home to the BBC in Salford, Greater Manchester, for £425.6m. The site was previously owned by a 50:50 joint venture between Legal & General and Peel L&P. Landsec will partner with Peel L&P who will retain a […]
In QuotedData’s morning briefing 2 November 2021: VH Global Sustainable Energy Opportunities (GSEO) says it has invested £30m of the £78m it committed to fund innovative net zero flexible power generation projects in the UK. The initial tranche will fund the construction of one project in Nottinghamshire, UK, consisting of a 10MW high efficiency combined […]
Land Securities (LAND) has agreed terms of a recommended all cash offer for U and I Group (UAI), valuing the company at £190m. Under the terms of the acquisition, UAI shareholders will be entitled to receive 149p per share, which is a mammoth 73% premium to the closing price of 86.0p on 29 October 2021. […]
If ever there was a sector that was in need of a shot in the arm from the Autumn budget this week it was retail. Unfortunately, the chancellor passed up on the opportunity with wishy-washy business rates reform. Rishi Sunak’s announcement that business rates in the retail, hospitality and food & beverage sectors would be […]
QuotedData’s weekly news show 29 October 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana and Richard Williams covered the week’s top stories: EP Global Opportunities Atrato Onsite Energy Urban Logistics REIT This week’s interview was with Richard […]
African real estate investor Grit Real Estate announced full year results to the end of June 2021, with a 12.6% drop in net asset value (NAV). EPRA net reinstatement value (NRV – the group’s EPRA equivalent for NAV) per share contracted to $1.024 (2020: $1.171). The reduction was principally as a result of a decrease […]
In QuotedData’s morning briefing 26 October 2021: Schroder BSC Social Impact (SBSI)’s first results, covering the period from launch to 30 June 2021, show an NAV return of 6.09%. There’s a first dividend of 0.57p per share. All of the IPO proceeds have been committed and, at 30 June, two-thirds had been deployed into 23 […]
Urban Logistics REIT has announced plans to move to the premium segment of the main market of the London Stock Exchange. The directors said they believed that the market capitalisation of the company (£550m) now justifies the move and that it would provide the most appropriate market listing for the continuing growth of the company. […]
The remarkable response to the COVID-19 pandemic by the UK life sciences sector, with the development of the Oxford-AstraZeneca vaccine in record quick time, brought the sector into the consciousness of the masses. In truth, UK life sciences has been a budding sector for years, with four of the top 10 universities in the world […]
I have long thought that one of the great strengths of the investment companies sector is the boards of independent directors working on investors’ behalf to keep managers and other service providers in check, keep a lid on overheads and ensuring that shareholders are treated fairly. While not every investment company is a shining example […]
Tritax EuroBox has acquired a logistics asset in the Rhine-Ruhr region of Germany for €32m, as it sets about deploying the proceeds of its recent equity raise. The asset, located in Gelsenkirchen, has a total gross internal area of 16,632 sqm and comprises three purpose-built logistics facilities located in the heart of the prime logistics […]
Life Sciences REIT has published its prospectus You can access this here Application forms are towards the back of the document. Access to the IPO is restricted by geography. In particular, you should not be accessing this from the USA. Please ensure that you read the prospectus including the risk warnings before making an investment.
In QuotedData’s morning briefing 21 October 2021: Custodian REIT (CREI) has bought a 28,601 sq ft industrial unit on Clifton Moor Industrial Estate, York, adjacent to York’s northern bypass which connects to both the A1(M) and M62. The unit is occupied by Menzies Distribution Limited with a weighted average unexpired term to first break or […]
Urban Logistics REIT has acquired two assets for £15.1m at a 6.0% net initial yield (NIY). The assets include one income producing asset providing immediate additional revenue, and a forward funding development project. Around £50m of further investments are in advanced stages of contractual progress and are expected to be completed in the near term […]
Target Healthcare REIT, the care homes investor, delivered a net asset value (NAV) total return for the year ended 30 June 2021 of 8.8%. EPRA net tangible assets (NTA) was up 2.1% to 110.4p per share, while the group paid out dividends of 6.72p. The dividend (which was up 0.6% on 2020) was not fully […]
In QuotedData’s morning briefing 20 October 2021, it is very busy for a Wednesday: Drum Income REIT (DRIP)’s shareholders have overwhelmingly approved the absorption of the trust into Custodian REIT. Court approval for the scheme is expected on 1 November; Drum’s shares will be suspended on 3 November and delisted on 4 November; and the […]
A new real estate investment trust (REIT) focused on the life science laboratories is looking to raise £300m in an initial public offering (IPO). Life Science REIT has announced its intention to launch on the Alternative Investment Market (AIM) of the London Stock Exchange through a placing, offer for subscription and intermediaries offer targeting the […]
In QuotedData’s morning briefing 19 October 2021: Augmentum Fintech (AUGM) is making a £10m investment into Zopa as part of that company’s latest funding round of £220m. The funding round is being led by SoftBank Vision Fund 2 with participation from Chimera Abu Dhabi, and is conditional on regulatory approval. Augmentum is investing alongside other […]
Home REIT has deployed £166.4m of the proceeds raised in its £350m equity issue less than a month ago. The company has acquired 23 portfolios comprising 366 properties located across England and Wales and added a further 1,850 beds to the portfolio, bringing the total to 1,077 properties and just under 5,700 beds. The acquisitions […]
In QuotedData’s morning briefing 18 October 2021: LondonMetric Property has bought two last mile logistics assets in Fulham and Tottenham for a combined purchase price of £20.2m. The assets total 44,000 sq ft and have been acquired with vacant possession in two separate transactions. LondonMetric will refurbish both properties at a cost of £1.4m which, once […]
Investors looking for fresh ideas on where to invest their allocation to real estate could do worse than look at the nascent private rented sector (PRS) in the UK. PRS as an asset class is still at an embryonic stage in the UK (huge in the US and Germany) due to the hardened home ownership […]
Capital & Regional, the shopping centre REIT, has reached an agreement with its lenders to restructure and reduce the debt secured over four of its mall assets, including the launch of a fully underwritten open offer to raise £30m. The facility currently comprises a £265m debt with RBS and TIAA secured over the four mall […]
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