This sector includes mortgage companies, property management companies and REITs
QuotedData’s weekly news show 16 April 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, James Carthew covered the week’s top stories: Schroder British Opportunities’ new investment Brevan Howard funds update Richard Williams also covered British Land’s strategic review of […]
Portfolio shake-ups seem to be all the rage among listed property companies at the moment. Those with large exposure to retail certainly need to be doing something to stem the flow to valuation falls. The words horse and bolted come to mind. No-one could have foreseen a global pandemic, but the effects of online retailing […]
Phoenix Spree Deutschland, the UK listed investment company specialising in German residential real estate, has seen its share rise 6.5% today on the news that the German Federal Court has ruled against the legality of the Mietendeckel rent freezer in Berlin. Phoenix Spree had estimated that the financial impact of the Mietendeckel, which became effective on 23 […]
In QuotedData’s morning briefing 15 April 2021: Tufton Oceanic (SHIP) has acquired a Handysize Bulk Carrier for $14.3m. The vessel has a fixed rate time charter for eleven to thirteen months to a large maritime transport and logistics company. In addition, the Containership Swordfish has a new fixed rate time charter for fifteen to seventeen months from the […]
NewRiver REIT is considering an initial public offering (IPO) of its pubs business Hawthorn as part of a strategic overhaul. The group said one of its strategic priorities was to divest the community pub business “in order to reset our LTV and provide firepower to reshape our portfolio”. This, it said, included a potential IPO […]
British Land has acquired a warehouse in Enfield for £87m and has announced plans for 1m sq ft of urban logistics development at two of its shopping centre sites. It is the first foray into the burgeoning logistics sector for the REIT, which has traditionally had a portfolio focused on offices and retail. It has exchanged […]
In QuotedData’s morning briefing 14 April 2021 – CEIBA (CBA) announced the admission to The International Stock Exchange (TISE), Guernsey, of the €25m, 10%, senior unsecured convertible bond issue due for repayment on 31 March 2026. CBA is the largest listed international company solely dedicated to investing in Cuba, with interests in the country’s commercial and […]
In QuotedData’s morning briefing 13 April 2021: Augmentum Fintech (AUGM) has sold its holding in Dext (formerly Receiptbank). The UK-headquartered digital bookkeeping platform is being acquired by Hg (HGT) for £10.5m. The investment was valued at cost (£7.5m) and made Augmentum an IRR of 30.5%. Separately, Augmentum has made a further follow on equity investment of €2m […]
In QuotedData’s morning briefing 12 April 2021 – Jupiter US Smaller Companies (JUS) has released a circular to its shareholders proposing a change in its name to Brown Advisory US Smaller Companies, both to reflect the identity of its new manager and to assist in marketing the company under its new management. JUS made the following […]
QuotedData’s weekly news show 9 April 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, James Carthew covered the week’s top stories: Schroder UK Public Private slashed the value of its Rutherford Health investment to £34m from £81m SDCL Energy Efficiency’s […]
The moratorium on evictions that has shackled landlords on rent collection is due to come to an end at the end of June – whether it will or not is anyone’s guess as the government has kicked the can down the road since the pandemic started. It will be good news for property owners that […]
In QuotedData’s morning briefing 9 April 2021: Schroder UK Public Private says it has completed the sale of its shares in Kymab to Sanofi for approximately US$82m. There may be additional contingent payments of up to US$33m, subject to a deferred purchase price release and Kymab achieving certain development and regulatory milestones. Hibernia REIT says that it […]
British Land has pre-let 134,000 sq ft of office space at its 1 Broadgate development in the City of London. It has signed a deal with real estate consultancy firm JLL on a 15-year term. The deal represents almost 30% of the office space in the new 546,000 sq ft mixed-use scheme. Demolition of the […]
In QuotedData’s morning briefing 8 April 2021: Schroder UK Public Private has slashed the value of its Rutherford Health investment to £34m from £81m. The statement says “The valuation of Rutherford Health has been reduced to reflect slower than expected commercial progress and increased risk to the business outlook for equity holders.” This offsets good news […]
London office developer Helical collected 92.9% of rent in the year since the lockdown was first implemented in the UK. The group said of the balance, 4.9% had been granted rent holidays – mainly on its food and beverage tenants, and 2.2% subject to ongoing discussions. Of the current quarter, to the end of June […]
In QuotedData’s morning briefing 7 April 2021 – Urban Logistics REIT (SHED) has bought two assets for a total of £21.7m at a 6.14% net initial yield. The assets are in Warrington and Edinburgh. SHED also provided an update on its rent collection, noting that it collected 99% of rent due for the quarter to June. […]
Happy New Tax Year! In QuotedData’s morning briefing 6 April 2021: NewRiver REIT says its joint venture with BRAVO Strategies III LLC (in which it holds a 10% stake) has completed the acquisition of The Moor, a 28 acre estate in Sheffield city centre, for £41.0m (a capital value of £60 per sq ft). The deal was […]
Irish Residential Properties REIT (IRES REIT) is looking at internalising its management team, following the receipt of a notice of termination from its current investment manager. IRES Fund Management Limited, a wholly-owned subsidiary of CAPREIT, served notice yesterday of the termination of the investment management agreement, which will take effect on 31 March 2022. The […]
Stenprop, the UK multi-let industrial (MLI) property company, has completed several transactions which further progresses its strategic goal of becoming a fully focussed MLI REIT. It has acquired the Headlands Trading Estate in Swindon for £7.4m; disposed of the Bikemax portfolio of five German retail warehouse units for €27m; and completed the sale of the Victoria Centre retail […]
Tritax EuroBox has acquired two assets in Germany for €290.9m, deploying the proceeds of its capital raise in March. The assets, a 70,000 sqm logistics facility let to a leading German sportswear manufacturer and a 94,800 sqm property let to Wayfair, have a combined rental income of €11.38m a year and were acquired for a […]
In QuotedData’s morning briefing 1 April 2021 – no April Fools, we promise: UK Commercial Property REIT (UKCM) has sold its Kew Retail Park asset in London to a leading UK housebuilder for £41m. The sale price is marginally below the end 2020 book value. Of the complete 10 acre retail park, the trust owned 4.7 […]
CEIBA Investments, the real estate company dedicated to investing in Cuba, has raised €25m in an unsecured convertible bond issue. The 10%, five-year bond was priced at the unaudited net asset value per share at 30 June 2020 of 104.3p and will be admitted to the International Stock Exchange, Guernsey. The capital will finance the completion of […]
In QuotedData’s morning briefing 31 March 2021 – JPMorgan Multi-Asset (MATE) announced that with immediate effect, to better reflect the investment objective of providing an attractive total return of growth and income, the company will change its name to JPMorgan Multi-Asset Growth & Income. The company’s London Stock Exchange stock ticker symbol MATE will remain […]
In QuotedData’s morning briefing 30 March 2021: Big Yellow has acquired a prime 0.8 acre site in Epsom, South West London for £6.5m. It will be seeking planning permission for a 56,000 sq ft self storage centre on the site. This acquisition takes the number of stores in the group’s pipeline to 13, of which eight have […]
LXI REIT has acquired seven grocery stores for £85m, in the first step in deploying the proceeds of its £125m capital raise earlier this month. The acquisitions comprise both pre-let forward fundings and built investments and have an average net initial yield of 5.25%. Together, the assets have a long average unexpired lease term to first […]
In QuotedData’s morning briefing 29 March 2021 – VietNam Holding (VNH) had an excellent interim results period to 31 December 2020, with its NAV increasing by 38.7% in USD terms. Vietnam’s early success in containing COVID-19 helped it re-open its economy much sooner than many other nations. Within the portfolio, VNH’s overweight position in HPG, the leader in […]
Chancellor Rishi Sunak has called on businesses to end working from home once the pandemic is over. It is likely to be the first of many calls as the government tries to kick start the economy – with the prosperity of city centres dependent on office workers. Although he may have an agenda to get […]
Urban Logistics REIT (SHED) has exchanged contracts to sell five assets as part of a portfolio for £30m, reflecting a yield of 4.8%. The sale is in line with SHED’s stated strategy of active portfolio management and value optimisation and represents a 35.4% uplift on the 30 September 2020 book values. The proceeds will be reinvested […]
Regional REIT has reported its COVID hit results for 2020. Operationally, the results were robust, but EPRA net tangible assets (NTA) was down 12.4% in the year to 98.6p per share, driven by a 7% drop in the value of its portfolio to £732.4m. The group collected 96.1% of rents during the year (98.2% with […]
In QuotedData’s morning briefing 25 March 2021: Tufton Oceanic Assets (SHIP) raised gross proceeds of US$14.7m by issuing 15m shares at 98 cents each. [It said that it was after $25m, so perhaps this was a little disappointing. That’s a surprise to us as shipping rates have been soaring.] The Renewables Infrastructure Group (TRIG) raised about […]
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