This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 7 October 2021: JZ Capital Partners has agreed with its existing senior lenders to borrow a further amount of $16.0m under its senior secured debt facility. This is a ‘first out loan’ which means it gets repaid first as the company frees up cash from its portfolio. The interest rate is […]
In QuotedData’s morning briefing 5 October 2021: Following shareholder approval, BioPharma Credit (BPCR) is transferring to a listing on the Official List of the Financial Conduct Authority and to trading on the Premium Segment of London Stock Exchange’s Main Market. It has also created a sterling line of stock – ticker BPCP – which will […]
Schroders and SEGRO swap property – SEGRO and Schroders have completed a property swap transaction in which SEGRO has acquired from Schroders a 256,000 sq ft urban warehouse estate in West London for £140m and Schroders has acquired from SEGRO a portfolio of UK big box and urban assets totalling 880,000 sq ft for £205m. The […]
With the re-opening of the economy seeing consumers return to physical retail and the important role stores play in omnichannel retail strategies becoming more apparent, is now the time to look at retail again? Pricing has already started to recover in the retail park segment of the market (where investor appetite is strong for reasons […]
Alternative Income REIT (AIRE) has reported a 2.4% uplift in net asset value (NAV) in full year results to the end of June 2021. NAV increased to 85.58p per share (from 83.58p) thanks to a 4.3% uplift in the valuation of its long-income property portfolio to £109.23m. EPRA earnings for the year were 5.55p per […]
In QuotedData’s morning briefing 30 September 2021: International Public Partnerships (INPP) says its £40m investment in the Rampion OFTO project looks likely to complete in November after Ofgem approved it on Tuesday. The project relates to the transmission cable connection to the Rampion offshore wind farm located 13km off the Sussex coast. The wind farm […]
Aberdeen Standard European Logistics Income (ASLI) has raised £125m in a significantly oversubscribed issue. A total of 114.7 million new shares will be issued at a price of 109.0p. The board said despite the oversubscription, a scaling back exercise had to be undertaken with investor demand substantially exceeding £125m. Tony Roper, chairman, said: “The very […]
In QuotedData’s morning briefing 28 September 2021: Over the six months ended 31 July 2021, North American Income Trust (NAIT) beat its benchmark by 2.2%, producing a return on NAV of 19.8% against 17.6% for the Russell 1000 Index. The statement says that “This was mainly attributable to the positioning in the technology sector, as […]
Normally the dull end of the real estate world (meant in the nicest possible way), the social housing real estate investment trust (REIT) sector has thrown up two of the biggest pieces of news this week – Civitas Social Housing (CSH) coming under attack from a short seller and Home REIT (HOME) raising £350m in […]
Supermarket Income REIT (SUPR) has reported impressive full-year results, posting net asset value (NAV) total return of 12.8% for the year to 30 June 2021. The uplift in NAV (EPRA net tangible assets – NTA) of 7% to 108p per share was primarily due to an 8.5% like-for-like growth in the value of its property […]
In QuotedData’s morning briefing 23 September 2021: Acorn Income has published a circular convening the meetings necessary to get shareholder approval for its plan to liquidate and offer investors a choice of cash or a rollover into an open-ended fund managed by Unicorn – the Unicorn UK Income Fund – this will be the default […]
Urban Logistics REIT has deployed £88m of the £109m it raised in July in six off-market transactions. The blended net initial yield (NIY) was 5.4% and is made up of a combination of income producing assets and forward funding commitments. Separately a further £15m was deployed before this equity raise, in three transactions. The manager […]
In QuotedData’s morning briefing 21 September 2021: Workspace has sold 13-17 Fitzroy Street, London for £92m. The 92,700 sq ft property has been vacant since Arup moved out in June 2021. The sale price represents a 3.2% discount to the last valuation as at 31 March 2021 and a capital value of £993 per sq […]
Supermarket Income REIT has acquired six supermarkets for a total of £113.1m, reflecting a combined net initial yield of 4.6%. Acquired from different vendors, the purchases consist of a Tesco in Prescot, two Morrisons in Durham and Cumbria, an Aldi in Oldham and an Aldi and M&S Foodhall site in Liverpool. The Tesco in Prescot, Merseyside […]
Interim results tend to be quite placid affairs – giving a good update on performance and market commentary but not much else. This week, however, property development specialist Harworth Group bucked the trend by outlining its intentions to double in size to more than £1bn over the next five to seven years. Chief executive Lynda […]
In QuotedData’s morning briefing 16 September 2021: GCP Asset Backed Income says that on 15 September 2021 certain entities within what it terms “the Co-living Group” were placed into administration. We highlighted the fund’s problems with this loan on Monday. GCP Asset Backed Income, its co-lenders and an operator have formed a syndicate to fund […]
Tritax EuroBox has announced the forward funding of a new logistics asset near Stockholm, Sweden, for €27.9m. The deal marks the company’s second acquisition in Sweden. The 13,181 sqm logistics facility, located just north of Stockholm, consists of two separate units of 8,204 sqm and 4,977 sqm, which will be constructed between November 2021 and December […]
In QuotedData’s morning briefing 14 September 2021: Henderson High Income, managed by David Smith (pictured), made a great start to 2021 outperforming its benchmark by 3.9% to produce an NAV return of 12.3% for the six months ended 30 June. Shareholders did much better than that though as the discount was eliminated, providing a return […]
Civitas Social Housing has been the subject of negative press over the weekend. The Sunday Times reported that ShadowFall – an investor that sells stock in companies it doesn’t own and then publishes negative research on them with the aim of buying back the shares at a cheaper price – has a short position in […]
Tritax EuroBox is looking to raise £170m (€200m) to acquire further assets, after also announcing today that it will forward fund a logistics development in the Ruhr region of Germany. The proposed placing of 152.5 million shares will be at an issue price of 111.5 pence, representing a discount of 3.0% to the closing share […]
In QuotedData’s morning briefing 9 September 2021: BlackRock Throgmorton is asking investors to allow it to issue more shares. The permission given by investors at the last AGM is starting to run out as the success of the trust attracts new investors. Growing the trust adds to the NAV, because all new shares are issued […]
Standard Life Investments Property Income Trust (SLI) has acquired land that will be used to offset carbon emissions from its portfolio, in a first for the property sector. The 1,447 hectares of upland rough grazing and open moorland in the Cairngorm national park has been purchased for £7.5m. The site supports 956 hectares for planting […]
LondonMetric Property has acquired three urban logistics warehouses for £35.4m in separate transactions, reflecting a blended net initial yield (NIY) of 4.4% and a reversionary yield of 4.9%. The properties generate a combined rent of £1.7m a year with 83% of the income benefiting from RPI or CPI linked rent review. The warehouses have a […]
In QuotedData’s morning briefing 7 September 2021: Augmentum Fintech has made a $10m investment in AnyFin, a Stockholm-based consumer credit refinancing company. Anyfin (www.anyfin.com) was founded in 2017 by former executives of Klarna, Spotify and iZettle, and leverages technology to allow credit-worthy consumers the opportunity to improve their financial wellbeing by consolidating and refinancing existing credit […]
We like a contrarian investor and one that will put its money where its mouth is. Well, step forward Regional REIT. The trust this week bought a £236m portfolio of regional offices (growing the size of its portfolio by more than a third) at a time when most are shying away from the sector with […]
Regional REIT has acquired a portfolio of 31 multi-let offices for £236m. The group, which recently changed its investment strategy to be purely focused on UK offices, said the consideration to be paid to the vendor (Squarestone Growth LLP) will be satisfied by three components: the issuance of 84,230,000 new ordinary shares in the company at […]
Home REIT, which invests in a portfolio of accommodation for the homeless, is looking to raise £262m from a placing. The group has fully deployed the net proceeds of its £240m IPO in October 2020 and over 70% of its £120m debt facility, establishing a £328m portfolio providing more than 3,800 beds for homeless people across […]
Responsible Housing REIT announces intention to float, looking to raise up to £250m to invest into supported housing accommodation across the UK. Managed by BMO Real Estate Partners, part of BMO Global Asset Management, the REIT said it would aim to address a lack of available, quality accommodation catering for supported residents across a number of care […]
Ediston Property Investment Company has acquired Springkerse Retail Park, Stirling, for £21.85m, reflecting a net initial yield of 9.54%. The group has bought the 162,593 sq ft retail park from the proceeds of its sale of a Tesco supermarket, with the net operating income from the new acquisition 35% higher than the rent received from Tesco, […]
Shaftesbury, which owns a 16-acre portfolio in London’s West End, has reported a significant reduction in vacancy in a trading update as footfall and trading recover. The group said vacant available-to-let space across its portfolio of retail, hospitality, leisure and offices was down to 4.6% at 31 July (from 8.4% at 31 March). This decreased […]
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