This sector includes mortgage companies, property management companies and REITs
Aberdeen Standard European Logistics Income (ASLI) has acquired an urban logistics warehouse in Barcelona, Spain for €18.8m and a net initial yield of 3.7%. The group has also provided an update on one of its tenants, Office Depot France, which went into administration earlier this year. The company said it was increasingly likely that the […]
Urban Logistics REIT has raised £108.3m in an equity raise. The group said the placing was materially oversubscribed above the £108m target and a scaling back exercise was carried out. A total of 65,870,766 placing shares (£102.1m) in the company have been conditionally placed at an issue price of 155 pence per share. Additionally, a total […]
Yet more news of a potential takeover of a listed property company came to the fore this week, as private equity groups continue to circle the discounted real estate sector. Due to COVID uncertainty, many property companies have been trading at discounts to net asset value (NAV) for many months now. Despite the successful rollout […]
QuotedData’s weekly news show 9 July 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 and Richard Williams covered the week’s top stories: AVI/Third Point update HydrogenOne IPO GCP Student Living potential takeover Watch it again here This week’s […]
Great Portland Estates signed lettings worth £12.7m of new annual rents in three months to the end of June, with further £14.9m under offer, it said in a trading update. The central London office developer’s chief executive Toby Courtauld said momentum was building. The new lettings, which included £8.0m of retail space, were 9.3% ahead […]
In QuotedData’s morning briefing 7 July 2021 – KKV Secured Loan (KKVL) is to return £10.6m to ordinary shareholders and £9.7m to C shareholders. This return of capital will be effected by way of an issue of redeemable B and D shares to existing shareholders. FastForward Innovations (FFWD) topped up its investment in South West Brands with […]
In QuotedData’s morning briefing 5 July 2021 – Fair Oaks Income (FAIR) announced that FOIF II LP (Master Fund II) has made two investments in the majority equity of new US CLOs. These investments reinvest the sale proceeds of CLO mezzanine debt which were acquired opportunistically in the spring of 2020. Both new CLOs include ESG-related […]
Solid results from Civitas Social Housing – Civitas Social Housing has published its full year results for the year ended 31 March 2021. Over that period, the IFRS NAV rose 0.4% to 108.3p. EPRA earnings per share were 6.5% higher at 4.93p and the company says that, at levels of investment at the year end, the […]
Urban Logistics is fundraising – Urban Logistics’ existing funds are fully invested or committed and the company has a strong pipeline of attractive off-market opportunities with a weighted average net initial yield of about 6.1% and average rent per square foot of about £5.40. On 9 June 2021 Urban Logistics said that its board aspires to […]
In QuotedData’s morning briefing 30 June 2021: International Public Partnerships is looking to raise money by issuing shares at 165p, a 15% premium to the end December 2020 NAV (adjusted for the 3.68p dividend declared since). The company has £56m of drawings on its debt facility and upcoming investments worth about £100m, including its investment in […]
In QuotedData’s morning briefing 28 June 2021 – RTW Venture (RTW), focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors, noted the 24 June announcement by one of its portfolio companies, GH Research regarding its pricing of a $160m IPO and admission to trade on the Nasdaq global market under ticker ‘GHRS.’ GH Research is […]
“I wish we had 10 centres in Cornwall,” Mark Dixon, chief executive of IWG – the world’s largest flexible workspace provider, said at a recent webinar when discussing the shift in occupier demand during the pandemic. He believes the trend for working “near to home” is here to stay. “The genie is out of the […]
AEW UK REIT has reported strong annual results with a net asset value (NAV) total return of 15.1%. The group, which has a heavy portfolio weighting to the industrial sector (60.8%), saw its NAV increase 6.5% in the year to 31 March 2021 to 99.15p per share (March 2020: 93.13p). The group paid a dividend […]
LXI REIT has announced its intention to raise £75m through the issue of new shares. The issue price of 133p per share reflects a 2.3% premium to the company’s estimated IFRS net asset value (NAV) of 130p at 1 June 2021 and a discount of 7.9% to its closing share price of 144.4p. The proceeds […]
In QuotedData’s morning briefing 23 June 2021 – Weiss Korea Opportunity Fund (WKOF) said that further to its announcement of 9 June 2021, it has made good progress with the sale of assets in the realisation pool and announced the first compulsory redemption of realisation shares representing approximately 76.7% of realisation shares in issue. Standard Life […]
Real estate has historically been a good hedge against inflation and, with the consumer prices index (CPI) rising to 2.1% in May heightening fears that stagflation could be round the corner, investors may be keen to double down on their real estate investment trust (REIT) exposure. However, traditional real estate market drivers are not at […]
In QuotedData’s morning briefing 17 June 2021 – Augmentum Fintech (AUGM) will look to raise £40m as part of an ongoing share issuance programme. AUGM says it has a pipeline of over £1bn across all of its target sectors and geographies, including approximately £194m of opportunities in active development, and as such is well-positioned to continue to […]
Tritax EuroBox has acquired a logistics asset in the Port of Gothenburg, Sweden – its first in the Nordics – for SEK474 million (€47m). The 28,900 sqm property comprises two purpose built logistics facilities (one of 16,200 sqm and the other 12,700 sqm), located in the heart of the prime logistics location in the Port of […]
In QuotedData’s morning briefing 16 June 2021 – RTW Venture (RTW) raised gross proceeds of $8.967m following the issue of ordinary shares at a price of $2.07. Further to its announcements on 28 May 2021, Ashoka India Equity (AIE) announced the results of its initial issue, with applications for 2.85m ordinary shares having been received. The shares will […]
In QuotedData’s morning briefing 14 June 2021 – VH Global Sustainable Energy Opportunities (GSEO) announced the completion of its acquisition of the first $4m tranche out of its $63m commitment to a Brazilian solar power programme. The initial tranche will fund the construction of four projects across Rio de Janeiro, which once operational will provide […]
The industrial and logistics sector has been the standout property performing for some time now and particularly during the pandemic, where accelerated online retailing trends and new supply-chain resilience requirements has significantly boosted demand. However, contrasting views on the future growth prospects of one of the sub-sectors, multi-let industrial, was borne out this week in […]
The UK Residential REIT prospectus is out and, as promised, we are making it available here. As always, we are not recommending that you buy the shares. In fact we are not acting in any capacity with respect to the IPO. The prospectus is just provided for your convenience. There are geographic restrictions on who can invest in […]
Stenprop, the multi-let industrial (MLI) property company, has posted a NAV total return for the year to 31 March 2021 of 11.4%. This was made up of a 6.5% increase in EPRA net tangible assets (NTA) to 147p per share and dividends paid of 6.75p in the year. The group’s portfolio, which is now 74.3% […]
The board of Sigma Capital Group, the private rented sector (PRS) specialist, has reached agreement on the terms and conditions of a recommended cash offer for the business, valuing it at £188.7m. Private equity company PineBridge Benson Elliott has offered 202.1p per share for the company, which is a 35.6% premium to last night’s closing price […]
LXI REIT has exchanged contracts on the forward funding acquisition of a 94,000 sq ft garden centre in Reading for £19m, reflecting an accretive 5.3% net initial yield. The property is pre-let to Dobbies, the UK’s largest garden centre operator and an existing tenant of the company, on a new 35-year lease, with no break […]
Lar Espana Real Estate has extended the investment management agreement (IMA) with Grupo Lar by five years on a reduced fee. The board of directors of the company, which owns retail malls in Spain and listed on the Madrid Stock Exchange in 2014, has agreed to renew the IMA with a new fee structure. The […]
Urban Logistics REIT has reported a stellar set of annual results in which EPRA net tangible assets (NTA) increased 10.5%. The uplift, to 152.33p per share at 31 March 2021 from 137.89p the previous year, reflected a jump in the value of its properties (by 13.2%) as the logistics sector continued its strong ascent. Total accounting […]
In QuotedData’s morning briefing 9 June 2021 – JPMorgan Indian (JII) announced interim results to 31 March 2021. While the fund performed well, it was of course a very difficult time for India as a whole. JII managed to deliver a total return NAV return of 21.8%, which compares with a return of 19.2% from […]
Sirius Real Estate, the German business parks owner and operator, posted a net asset value (NAV) total return for the year to 31 March 2021 of 19.5%. This was generated from a 15.0% uplift in NAV and 3.62 euro cents dividends paid in the year. The strength of the German business park sector, especially in […]
In QuotedData’s morning briefing 7 June 2021 – Augmentum Fintech (AUGM) says that it continues to see a strong pipeline of investment opportunities. It is considering the issue of new ordinary shares to fund additional investments, with any potential fundraise likely to follow the publication of an updated NAV. Further details will be announced in […]
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