Greencoat UK Wind powering 1m homes but low wind speeds and falling power prices knock earnings – Greencoat UK Wind says its power generation was behind budget in 2019 – as wind speeds were below average for the year – its earnings were also impacted by falling power prices. Reduced assumptions about future power prices […]
In QuotedData’s other news 27 February 2020 JLEN Environmental’s fundraise was significantly oversubscribed. The placing, which was only available to professional investors, will result in the issue of 49,701,820 new shares at 115p, raising gross proceeds of £57.2m. JLEN will use the money to finance “an identified pipeline of near-term opportunities across the bioenergy and flexible […]
The board of Global Sustainable Farmland Income has this afternoon extended its IPO period, which was initially open until 25 February. Covid-19 has been heavily impacting financial markets The fund’s board has said that it has been pleased with the reception that the issue has received from a number of large institutional investors and discretionary […]
Intu has agreed terms to amend and extend one its loans, conditional on it raising £1.3bn of equity. The revised four-year £440m revolving credit facility will replace intu’s existing £600m facility that is due to expire in October 2021. The revised facility will be provided by all seven of the existing banks who participate in […]
US private equity giant Blackstone has backed the UK student property sector with the £4.7bn acquisition of a student accommodation company. It has agreed a deal to buy IQ Student Accommodation from Goldman Sachs and Wellcome Trust, in a deal that is said to be the UK’s largest-ever private real estate transaction. IQ owns and […]
Capital & Regional, the shopping centre REIT, has appointed David Hunter as non-executive chairman. Hunter, who is also chairman at Custodian REIT, will take up the post at the conclusion of the group’s 2020 Annual General Meeting on 20 May 2020. He will initially join the board as a non-executive director from 9 March 2020. […]
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 […]
