Apax Global Alpha has announced that The Apax VIII Fund, in which it is a limited partner, has today announced an agreement in principle to sell Exact Software. Apax VIII also announced on 21 February 2019 that it has agreed to sell its entire stake in AssuredPartners. It says that, together, these two transactions, based […]
LXB Retail Properties (LXB) has announced its annual results for the year ended 30 September 2018. In his chairman’s statement, Phil Wigely says that LXB has only a few weeks left until the anticipated de-listing and dissolution of the Company (subject to shareholders approve the necessary resolutions at an EGM scheduled for late March, and […]
Bluefield Solar Income Fund (BSIF) has announced its results for the six months ended 31 December 2018. Analysts from QuotedData attended the company’s results presentation and the company key operational highlights are listed below. However, underlying earnings for the period were £18m, which is 38.5% ahead, year-on-year (underlying earnings for the six-months ended 31 December […]
Syncona funds new immuno-oncology company – Syncona is contributing CHF 28 million (GBP21.4 million) to a CHF 35 million (GBP26.8 million) fundraising being carried out by Anaveon, a new immuno-oncology company. Syncona will have a 47.0 per cent stake in the business. Anaveon was founded in December 2017 by leading experts in the field of immunotherapy, […]
Derwent London delivers NAV growth despite Brexit – Derwent London has published results for the year ended 31 December 2018. Highlights are: Derwent London delivered a total return of 5.3% EPRA NAV 3,776p per share, up 1.6% EPRA earnings of 113.1p per share, up 20.0% from 94.2p in 2017 (but these include some one-off items, underlying […]
Rights and Issues Investment Trust (RIII) has announced its annual results for the year ended 31 December 2018. During the year, the trust provided an NAV total return of -9.7% (The NAV fell from 2,372.3p per share to 2,118.1p per share, but paid a modestly higher dividend of 31.5p per share versus 30.75p per share […]
Urban Logistics REIT has announced that it has exchanged contracts with Carbide Properties Limited, conditional on receipt of planning permission, for the forward funding of two high-quality urban logistics assets at Staffordshire’s Stone Business Park and Leicestershire’s Lime Kilns Business Park in Hinckley. The gross development value of the total acquisition is £15.4 million and […]
LXi REIT has announced that it has acquired a Bupa care home in Bristol for £13.8m. The Property, comprising a modern, high quality care facility providing nursing and residential care predominantly for privately funded patients, and reportedly benefits from high underlying occupancy levels. The purchase was conducted off-market and has been funded using the Company’s […]
Hammerson steps up disposal programme – Hammerson has published results for the year ended 31 December 2018. Highlights were: A 4.9% fall in EPRA NAV to 738p Impacted by a weaker investment market, UK property values fell during the second half of 2018 by -9.3%, the overall portfolio produced a 12 month capital return of -4.3% […]
intu reports significant fall in NAV – intu has released results for 2018 that show a drop in its EPRA NNNAV from 349p to 271p. Underlying earnings per share also fell – from 15p to 14.4p. The fall in NAV pushed up the company’s debt ratio to 53.1% from 45.2%. It said “In a challenging […]
AEW UK Long Lease REIT (AEWL) has announced that it has acquired a nursery property, 53 Victoria Road, in central Southampton. The property, known as the YMCA Woolston Nursery, was purchased by way of a sale and leaseback agreement with YMCA Fairthorne Group, a regional operation of the charity YMCA (the world’s largest youth charity). […]
Temple Bar makes Peter Lowery deputy manager – Temple Bar has announced results for the year ended 31 December 2018. The NAV total return was -11.2%, worse than the return on the All-Share Index which was -9.5%. The dividend has been hiked by 10%, emphasising Temple Bar’s AIC ‘dividend hero’ status. Alastair Mundy has managed the […]
Tufton Oceanic Assets (SHIP) has announced that it has agreed to acquire one general cargo vessel for $6.75m. This purchase will take the Company’s fleet to twelve vessels and, following the purchase, SHIP says that its “capital resources are now fully committed”. It has since announced its intention to raise up to $75m by way […]
Herald Investment Trust (HRI) has announced results for the year ended 31 December 2018. During the year, HRI’s NAV fell by 4.9%, while its share price fell by 8.2%, reflecting a widening of the discount during the period. HRI says that this compares against a fall in the Numis Smaller Companies Index plus AIM (ex. […]
Aberdeen Standard European Logistics invests in Krakow – Aberdeen Standard European Logistics Income has signed an agreement to acquire a freehold logistics warehouse in Krakow, Poland for a net value of EUR24.5 million providing a net initial yield of 6.8%. The vendors are Panattoni and Marvipol, well-known international real estate developers specialising in logistics. The transaction is […]
The Renewables Infrastructure Group (TRIG) has announced its final results for the year ended 31 December 2018. During the year, TRIG provided an NAV total return of 11.6%. It describes the year as one of “Strong financial performance during the year with portfolio generation close to budget” and has provided the following key highlights: Portfolio […]
Civitas Social Housing has announced that it has completed the purchase of 9 regulated social housing properties, comprising 42 tenancies, for a total consideration of £7.8m. The properties are leased to Encircle Housing Limited, Auckland Home Solutions C.I.C. and Inclusion Housing C.I.C. all of which are regulated by the Regulator of Social Housing and are […]
Primary Health Properties (PHP) has announced that it has contracted to fund and acquire a purpose built primary care centre in Athy, County Kildare, in the Republic of Ireland. The transaction is being conducted through Primary Health Properties ICAV, an Irish investment vehicle wholly owned by PHP, for a total cost of €11.4 million. Construction […]
NB Distressed Debt has announced the sale of its combined largest holding, a lodging and casino sector investment, for proceeds totalling approximately $34 million. It says that the sale price is “substantially equal to the carrying value in the most recent Net Asset Value announcements” and represents a gain of approximately $9 million over the […]
HICL Infrastructure has announced that it has agreed to acquire a further 40% interest in the N17/N18 Gort to Tuam PPP Scheme for €23m. The purchase is being funded from HICL’s revolving credit facility and the transaction is expected to complete by the end of February 2019. Harry Seekings, Co-Head of Infrastructure at InfraRed (HICL […]
AEW UK REIT(AEW) has announced that it has acquired Lockwood Court, a 187,794 square foot warehouse located on the Parkside Industrial Estate in Leeds, for a gross purchase price of £7.3m, reflecting a initial yield of 7.7%. About Lockwood Court The Lockwood Court warehouse asset is fully let to LWS Yorkshire Ltd, a logistics and […]
Judgement issued on Inclusion Housing CIC – The Regulator of Social Housing has issued a regulatory judgment in respect of Inclusion, one of the 15 housing associations working with Civitas. Inclusion has been issued with a G3 grading in terms of Governance and a V3 grading in terms of Financial Viability. These are the same gradings […]
Aberdeen Standard European Logistics expands in France – completes purchase of logistics warehouse located in Meung-sur-Loire, France, that was announced on 23 November 2018. Cost was EUR23.5 million providing a net initial yield of 4.7%. The warehouse is let to Office Depot France on a fully indexed lease until 2026 resulting in an unexpired lease term […]
Yew Grove REIT has announced that it has exchanged contracts to acquire Unit 2600, an Office Block located in Cork Airport Business Park. The €7.5 million acquisition represents a net initial yield of 7.85 per cent. after accounting for purchase costs. This is Yew Grove’s first investment in Cork. Unit 2600 Unit 2600 is a […]
BB Healthcare Trust has announced its annual results for the year ended 30 November 2018. During what the trust’s chairman, Professor Justin Stebbing, describes as “another successful year”, the trust provided Nav and share price total returns of 24.0% and 21.6% respectively. These returns are ahead of the MSCI World Healthcare Index, which it says […]
Brunner Investment Trust has announced its final results for the year ended 30 November 2018. During the year, Brunner provided an Nav total return of 2.7%, which the trust says a little behind the composite benchmark index (70% FTSE World Ex-UK and 30% FTSE All-Share Index). BUT says its benchmark rose by 4.1% on a total […]
Airbus will end A380 production – There is a story in the press this morning that Airbus has decided to stop making A380s in 2021. The decision was made after Emirates scaled back its orders for the plane. Those funds that own and lease A380s to Emirates – the three Doric Nimrod funds and Amedeo […]
Pershing Square will pay modest dividend – Pershing Square Holdings has initiated a quarterly dividend of $0.10, representing a current yield of 2.5% (based on the closing price of $15.70 on 12 February 2019). The idea is that instituting a quarterly dividend will expand Pershing Square’s investor base by attracting shareholders who prefer or require dividend-paying […]
LXi gets coffee fix – LXi REIT has exchanged contracts to provide forward funding for the pre-let development of a portfolio of 13 separate Starbucks and Costa drive-thru format coffee shops for a combined consideration of GBP23.4 million, reflecting a 5.7% net initial yield (net of acquisition costs). The acquisitions are being funded with their new […]
Polar Capital Global Financials Trust (PCFT) has announced its annual results for the year ended 30 November 2018. In what the chairman’s statement describes as a topsy-turvy year for global equity markets, PCFT provided NAV and share price total returns of -1.5% and -1.7% respectively, which it says compares against a total return for its […]
