This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 7 December 2021: ICG-Longbow Senior Secured UK Property Debt (LBOW) plans to hand back 6.5p per share (£7.9m) to shareholders. The capital return will be effected via an issue of redeemable B shares (issued in proportion to an investor’s holding of ordinary shares and then bought back and cancelled). The capital […]
Life Science REIT, the recently launched real estate investment trust focused on UK life science properties, has completed its maiden acquisition with a £77m purchase in London. The group, which raised £350m in an initial public offering (IPO) in November, has bought Rolling Stock Yard, a nine-storey office and laboratory building near London’s St Pancras […]
In QuotedData’s morning briefing 2 December 2021: ICG Enterprise Trust (ICGT) is investing in European Camping Group alongside funds advised by PAI Partners. The investment is being led by PAI Europe VII. ICGT will invest as a limited partner in that fund and also through a direct co-investment. Altogether, ICGT’s investment will be about €11.2m. European Camping […]
Residential Secure Income, which invests in independent retirement living and shared ownership property, has reported a net asset value (NAV) total return for the year to 30 September of 7.5%. In a positive set of annual results, the group also posted strong income and capital growth. Highlights included: EPRA adjusted earnings up 42%, to £7.1m […]
West End landlord Shaftesbury has resumed final dividend payments after reporting a “remarkable bounce back in activity” across its portfolio. The group, which owns retails, hospitality and office space in the heart of London’s West End, has been heavily impacted by the pandemic, but its chief executive Brian Bickell said in its annual results that […]
Tritax EuroBox has acquired a logistics facility in northern Italy for €49.65m. The asset, in Piacenza, comprises two units that were constructed in 2016 and 2020 with a total gross internal area of 47,800 sqm. The units are let on two separate leases to OVS SpA, an Italian fashion brand which uses the property as […]
In QuotedData’s morning briefing 30 November 2021: Octopus Renewables Infrastructure says that following the completion of construction of the 48MW Ljungbyholm Wind Farm in Sweden and the site becoming fully operational in June 2021, the Company has entered into a Power Purchase Agreement (PPA) over the electricity to be generated at Ljungbyholm. The counterparty to […]
The market doesn’t normally take kindly to potentially NAV dilutive capital raises but in the case of Grit Real Estate Income Group, which announced this week a proposed open offer and placing to raise up to $215.6m, we feel it is justified. The pandemic has heavily impacted the value of the company’s portfolio, which is […]
QuotedData’s weekly news show 26th November 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: Interim results – Montanaro UK Smaller Companies – Cordiant Digital Infrastructure – JLEN Environmental Assets […]
In QuotedData’s morning briefing on 25 November 2021: Seraphim Space (SSIT) has made a new $12.5m investment into Astroscale Holdings, the market leader in satellite servicing and long-term orbital sustainability across all orbits. Astroscale closed a $109m series F round which was led by THE FUND Limited Partnership in Japan and backed by a group […]
In QuotedData’s morning briefing 23 November 2021: Will Wyatt will step down as chief executive of Caledonia Investments (CLDN) in July next year. Will’s successor is Mathew Masters, currently head of Caledonia quoted equity. Mat will join the board as chief executive designate on 1 April 2022. Before joining Caledonia in 2005, Mat worked at […]
Schroder Real Estate Investment Trust has acquired a portfolio of four industrial assets in the north west of England for £19.85m, reflecting a net initial yield of 6.9%. The portfolio acquisition, to be funded by drawing on the revolving credit facility, generates rental income of £1.45m per annum. The acquisition increases the group’s industrial weighting […]
Grit Real Estate Income Group, the pan-African property investor, has announced a proposed open offer and placing to raise $215.6m. It is looking to place up to 414,647,283 new ordinary shares at US$0.52 per share, the open offer being on the basis of 1.3011 new ordinary shares for every one existing share. The group intends […]
LondonMetric has announced a proposed fund raise of £175m, through a placing and retail offer (through PrimaryBid), to fund a pipeline of logistics acquisitions. The company said that it intends to use the proceeds of the raise, the price of which has yet to be determined, to acquired committed and under offer deals that total […]
In QuotedData’s morning briefing 18 November 2021: Octopus Renewables (ORIT) says that construction has started at its Cumberhead wind farm. The Cumberhead project, which is expected to be fully operational by Q4 2022, is a 50MW onshore wind farm located in South Lanarkshire, Scotland, and will consist of 12 Nordex N133 turbines and have an […]
Tritax EuroBox has agreed a new lease on a vacant unit at its Nivelles asset in Belgium to Associated Retail SA (trading as Match Supermarkets), the convenience supermarket group located across Belgium, Luxembourg and northern France. The Nivelles property, comprising two separate logistics units, was acquired by the company in January 2021, immediately after completion […]
Workspace Group, flexible office space provider, has acquired The Busworks, in Islington, for a total of £45m. The off-market acquisition is being funded from existing facilities. A former Victorian bus factory, the property provides 104,000 sq ft of net lettable space across two conjoined warehouse buildings on 1.6 acres. It is currently operated as a […]
Life Science REIT successfully raised gross proceeds of £350m from its initial public offering (IPO). The company said it received applications exceeding the £350m maximum size of the issue, so a scaling-back exercise has been undertaken. A total of 350m ordinary shares will be admitted to trading on the Alternative Investment Market (AIM) of the […]
North American real estate investment trust (REIT) Slate Office REIT has agreed a deal to buy London-listed Irish office investor Yew Grove REIT for a consideration of €177.4m. The deal would see Slate acquire the entire issued and to be issued share capital of Yew Grove at a price of €1.017 per share. The cash […]
In QuotedData’s morning briefing 16 November 2021: International Public Partnerships (INPP) says that the consortium that it is a member of (alongside Amber Infrastructure Group and Transmission Investment) now owns the 400MW Rampion offshore wind farm transmission link. The offshore wind farm is located approximately 13km off the Sussex coast and consists of 116 x […]
LondonMetric Property has acquired two logistics warehouses for £135.6m in separate transactions, reflecting a blended net initial yield of 4.2% and a reversionary yield of 4.8%. The properties generate a rent of £6.0m a year with 100% of the income benefiting from RPI linked rent reviews and have a WAULT of 22 years. The first […]
Urban Logistics REIT has announced an Initial Placing, Offer for Subscription and Intermediaries Offer targeting gross proceeds of £200m at a price of 170 pence per share. Having fully deployed or committed £134m of capital following the company’s £108m July fundraising, the manager has identified a further pipeline of high quality, last mile logistics assets, […]
Tritax EuroBox has agreed a deal to fund the development of an €117.9m logistics asset in the Rhine-Ruhr region in Germany. The development, in Bönen, will comprise 66,065 sqm of space and is pre-let to the Rhenus Warehousing Solutions SE & Co KG, one of the leading global logistics service providers, on a 15-year lease. […]
Urban Logistics REIT has posted a 7.9% increase in EPRA net tangible assets (NTA) in interim results, boosted by strong demand for last mile logistics facilities. In the six months to September 2021, the group’s EPRA NTA leapt from 152.33p to 164.30p per share. This was mainly due to portfolio like-for-like valuation growth of 11.3% […]
In QuotedData’s morning briefing 11 November 2021: Third Point Investors (TPOU) looks sets to benefit from the IPO of Rivian Automotive. It invested $10m in the electric vehicle maker in January 2021, followed by a subsequent $167m investment in the company’s convertible note financing in July 2021. Third Point added to its position in the […]
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 […]
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