BlackRock Throgmorton Trust (THRG) has announced its annual results for the year ended 30 November 2018. While THRG’s net assets fell during the year, the trust has provided a return substantially ahead of the benchmark index. Specifically, THRG provided NAV and share price total returns of -2.7% and +1.8% respectively, which it says compares against […]
Ranger Direct Lending (RDL) has provided an update on the company’s management and valuation arrangements. As previously announced, RDL’s investment management agreement with Ranger Alternative Management II, LP terminates with effect from today (12 February 2019). The Company has appointed International Fund Management Limited (IFM) as its replacement Alternative Investment Fund Manager with immediate effect and, […]
The Local Shopping REIT (LSR) has provided an update on its Property Sales Programme. Since its last update, LSR has sold or exchanged contracts for sale on 6 properties for an aggregate price of £0.93 million, representing a 1.1% discount to carrying value before sales costs. It says that, of these, 3 properties were sold […]
Tritax Big Box REIT (BBOX) has announced the results of its recent fundraising under which the Company has raised approximately £250 million (before expenses). The net proceeds of the issue are to be used by to fund the acquisition of an 87 per cent. economic interest in db Symmetry as well as further investments. The […]
Primary Health Properties (PHP has announced that it has acquired the entire issued share capital of Chapeloak Investments Limited, whose sole activity is the ownership of the Oakwood Lane Medical Centre, in Leeds, for a total consideration of £5.425m. It has also contracted to forward fund the development of a purpose built medical centre in […]
Witan Pacific (WPC) has provided a corporate update in which it says that its board is concerned that WPC has experienced some underperformance relative to its benchmark in recent years. The Board says that it believes that the Company must justify its actively managed investment approach. Therefore, it has resolved that, if the Company does […]
Yew Grove REIT has announced that it has exchanged contracts to acquire Office Block A at the IDA Waterford Business and Technology Park, Butlerstown, Waterford. The €4 million transaction represents a net initial yield of 8.56 per cent, after accounting for all purchase costs. The purchase if the company’s first in Waterford. Jonathan Laredo, Yew […]
Ediston Property Investment Company (EPIC) has announced that it has completed two lease transactions for Pallion Retail Park, Sunderland. The two tenants are Go Outdoors and The Wallpaper Warehouse. Go Outdoors takes on Unit 2 at Pallion Retail Park GO Outdoors signed an agreement for lease on unit 2, which comprises 11,345 square feet, in […]
NextEnergy Solar Fund (NESF) has announced that it has entered into a partnership with Zestec Asset Management Limited (Zestec) for the future acquisition of operating solar plants to be installed on commercial properties. The two companies have signed a framework agreement, under which NESF and Zestec are targeting, for 2019, up to £20m in investment […]
Towards the end of last month, we covered off the exciting results of Athelney’s EGM (All change please!) and the subsequent resignation of new appointee Paul Coffin, who subsequently resigned a few days later, leaving the other new appointee, David Lawman as the sole director of the trust. Well, since this time, David has not […]
Scottish American (SCAM or SAINTS) has announced its annual results for the year ended 31 December 2018. In what it describes as a challenging year for markets, the trust provided NAV and share price total returns of -2.4% and -1.6% respectively. The announcement highlights that these returns are ahead the total return from global equities […]
New manager for Schroder Japan – Schroder Japan Growth Fund has announced that Masaki Taketsume will be assuming formal responsibility for its portfolio from 1 July 2019. Masaki has been at Schroders for over a decade, and this appointment represents the execution of the long-term succession plan for Andrew Rose who has decided to retire from […]
Thalassa firms up Local Shopping bid – Thalassa will offer a total of GBP9.0 million in cash and approximately 16,000,000 Thalassa shares in exchange for the 61,484,576 Local Shopping REIT shares it does not already own. The offer will also include a mix and match facility which will allow Local Shopping REIT shareholders to elect to vary […]
Alternative Liquidity makes plans to expand – The board and the manager, Warana Capital have been exploring various growth strategies for Alternative Liquidity Fund. The board is now announcing proposals to introduce a new class of ordinary shares which, when issued, will be used to invest in a diversified portfolio of illiquid funds, funds of funds and other […]
Ediston Property (EPIC) has announced that it has signed a lease on unit B, Barnsley East Retail Park, with B&M Retail Limited (‘B&M’). The new letting has increased B&M’s occupation on the park by 40%. B&M will occupy both units A and B B&M already occupies the adjoining unit A which extends to approximately 25,000 […]
Yew Grove REIT has announced its annual results for the seven month period ended 31 December 2018. Jonathan Laredo, the company’s CEO describes these as a “strong set of inaugural results for the Group”. He also says that the net proceeds from the IPO have now been fully invested and the properties that have been […]
3i Infrastructure to sell Cross-London trains – 3i Infrastructure has agreed to sell its 33.3% stake in Cross London Trains, a company established to procure and lease the rolling stock for use on the Thameslink passenger rail franchise. The acquirer is a consortium of Dalmore and Equitix funds. The sale is conditional on certain third party […]
Infrastructure India edging closer to insolvency? – Infrastructure India has requested, but not yet been granted, a further extension of the date of maturity of the existing US$53.4 million unsecured bridging loan facility and the existing US$21.5 million working capital loan, both of which matured on 4 February 2019. On 31 July 2018, it announced that […]
Regional REIT buys Norfolk House, Birmingham – Regional REIT Limited has exchanged and completed on contracts to purchase Norfolk House, Smallbrook Queensway, Birmingham, for GBP20m, reflecting a current net initial yield of 7.92%. The deal was done off market. The 119,687 sq. ft. freehold property is in the centre of Birmingham; adjacent to Birmingham New Street […]
Warehouse REIT buys Glasgow air cargo centre – Warehouse REIT has exchanged contracts on the purchase of the Air Cargo Centre at Glasgow International Airport, from Airport Industrial Nominees Limited. The GBP11.1 million price represents a net initial yield of 6.7% and a reversionary yield in excess of 7%. The property is held by way of […]
Ground Rents Income loses court case – Ground Rents Income Fund says a High Court judgment has been handed down in connection with the recent hearing of the case between its wholly owned subsidiary North West Ground Rents Limited (‘NWGR’) and Blue Manchester Limited (‘BML’), a leaseholder within Beetham Tower, Deansgate, Manchester. In Ground Rents Income’s […]
Greencoat UK Wind raising cash to buy Scottish wind farms – Greencoat UK Wind (UKW) has entered into agreements to acquire 49.9% stakes in the Stronelairg and Dunmaglass wind farms from SSE (in partnership with a major UK pension fund whose investment is also managed by Greencoat Capital). UKW will acquire a net 35.5% stake in […]
Baker Steel Resources buys royalty in Queensland coal – Baker Steel Resources Trust has bought a 0.75% gross revenue royalty over the future production of coal from the Wilton and Fairhill properties in Queensland, Australia for A$6 million. The deal includes the option to acquire an additional 0.25% for a further A$2 million (exercisable any time […]
Aberdeen Emerging: underlying managers struggled in 2018 – Aberdeen Emerging Markets underperformed the MSCI Emerging Markets Index over the year to the end of October 2018, returning -12.4% in NAV terms against -9.0% for the benchmark. The discount widened, leaving shareholders with a return of -15.7%. total dividends of 21p were paid in accordance with the […]
Primary Health reports static earnings but increases dividend – Primary Healthcare Properties has published results for the year ended 31 December 2018 [a remarkable feat given this is just one month later]. Highlights are: A 4.4% increase in the EPRA NAV to 105.1p. The net initial yield of the portfolio fell to 4.85% from 4.91% EPRA […]
PRS REIT buys four more development sites – PRS REIT signed contracts over four additional private rental sector development sites in January. Three of the sites are ones which PRS will develop in conjunction with partners and the remaining site will be bought once it is fully-completed. The four sites are expected to deliver approximately 310 […]
Key highlights: Civitas Social Housing (CSH) has released its quarterly NAV and market update announcement. Key highlights are as follows: The IFRS NAV per share increased by 0.4% to 106.5p during the quarter (30 Sept 106.1p). This includes the recognition of two dividends in the quarter, and is equivalent to a total return of 2.6%. […]
Hipgnosis buys catalogue from Itaal Shur – Hipgnosis Songs Fund Limited has bought a music catalogue from Itaal Shur, best known for co-writing the multi platinum song ‘Smooth‘ which according to Billboard magazine is the second most successful song of all time. ‘Smooth’ is the only song to have ever appeared on two Billboard decade ending […]
CEIBA fully invested – CEIBA Investments Limited says it has now successfully deployed all of the £30m raised in its IPO. The company repaid the outstanding EUR30 million bridge loan (that was previously provided by its largest shareholder) in order to expand their interest in the Meliã Las Americas, Meliã Varadero and Meliã Sol Palmeras hotels […]
Drum Income Plus REIT ups dividend – Drum Income Plus REIT says that its net asset value per share at 30 September 2018 was 93.8 pence, 0.2% lower than the figure at the end of the previous year. When dividends paid during the year are included the net asset value total return for the year […]
