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Real Estate News

This sector includes mortgage companies, property management companies and REITs

23 Feb 2021

Lar Espana sells 22 supermarkets

Lar Espana sells 22 supermarkets – Lar España has sold 22 commercial premises leased to Eroski to European real estate investment fund Blackbrook Capital. The 22 supermarkets cover an approximate area of 39,000 square meters (28,000 of gross lettable space). The price is €59 million, which represents an uplift of 24% over the €47.6 million that the company paid […]

23 Feb 2021

QuotedData’s morning briefing 23 February 2021

In QuotedData’s morning briefing 23 February 2021: Sequoia Economic Infrastructure Income Fund says that it plans to raise up to a maximum of £172.9m by issuing up to 164,312,714 new ordinary shares at 105.25p. The price is a 4.0% premium to  NAV and a discount of 2.7% to the closing price of 108.2p last night. The proceeds […]

19 Feb 2021

QuotedData’s weekly news show 19 February 2021

QuotedData’s weekly news show 19 February 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: JLEN Environmental Assets expanding remit KKV Secured Loan update BH Global – shareholders to vote on BH Global fees […]

19 Feb 2021

QD view – EuroBox raise hits the sweet spot

The proposed €200m (£173m) equity raise by Tritax EuroBox should be enthusiastically received by investors. The group recognises that now is the time to be growing in the burgeoning European logistics sector, with structural tailwinds well and truly in its favour. Like in the UK, online retailing was already rising in Europe before the pandemic, but […]

19 Feb 2021

Tritax EuroBox looks to raise €200m

Tritax EuroBox, the European logistics investor, has proposed an equity raise of £173m (€200m) as it looks to expand its portfolio in the burgeoning property sector. The group will use the proceeds, together with existing cash (from the €65.5m sale of a Polish asset last week) and new debt, to acquire a near term pipeline […]

19 Feb 2021

Assura announces acquisition of Apollo Capital Projects Development

Assura (AGR) has announced that it has completed the acquisition of primary care developer Apollo Capital Projects Development Limited (Apollo). AGR says that Apollo has a strong, 20-year track record of developing high-quality primary care properties across the UK, with a very experienced four-person development team. As well as expanding the Assura development team to […]

19 Feb 2021

NewRiver REIT acquires The Moor, Sheffield in BRAVO JV

NewRiver REIT (NRR) has announced that its joint venture with BRAVO Strategies III LLC (BRAVO), in which it holds a 10% stake, has exchanged contracts to acquire The Moor, a 28 acre estate in Sheffield city centre. The estate is being acquired from CEP ASI UKPF Nominee 1 Limited and CEP ASI UKPF Nominee 2 […]

19 Feb 2021

Urban Logistics REIT announces six logistics acquisitions for £28m

Urban Logistics REIT (SHED) has announced the acquisition of six logistics assets for a total consideration of £27.8 million at a net initial yield of 6.87%. The acquisitions include the Kinaxia portfolio (four logistics assets purchased from Kinaxia Logistics), a logistics asset in Leigh and a logistics asset in Rotherham. The Kinaxia Portfolio On 17 […]

18 Feb 2021

Supermarket Income REIT buys further stake in Sainsbury’s portfolio

Supermarket Income REIT has acquired a further stake in a 26-strong Sainsbury’s portfolio. The group, in a joint venture partnership with BA Pension fund, bought a 25.5% stake in the Sainsbury’s portfolio last year from British Land, and has today acquired a further 25.5% stake from Aviva Investors for £115m. Following this second acquisition, the […]

18 Feb 2021

QuotedData’s morning briefing 18 February 2021

In QuotedData’s morning briefing 18 February 2021: SEGRO (SGRO) says its French subsidiary is making a tender offer for the 5.6% of Sofibus Patrimoine that it doesn’t already own. SEGRO’s offer is €313.71 per share. Grainger (GRI – the residential property company) has made Robert Hudson its chief financial officer. Rob is currently chief finance and operations […]

17 Feb 2021

Supermarket Income REIT acquires Sainsbury’s in Northern Ireland

Supermarket Income REIT has acquired its first Northern Ireland asset with the purchase of a Sainsbury’s supermarket in Bangor for £24.8m. The price for the 10-acre site, which also includes a Homebase unit, reflects a net initial yield of 6.6%. Developed in 2011, the site comprises a 44,000 sq ft net sales area supermarket with 650 […]

17 Feb 2021

QuotedData’s morning briefing 17 February 2021

In QuotedData’s morning briefing 17 February 2021 – Greencoat UK Wind’s (UKW’s) placing raised gross proceeds of £198m. The net capital raised will be deployed towards reducing borrowings under the company’s revolving credit facility, to allow the company to fund its pipeline of acquisition opportunities. Chrysalis Investments (CHRY) will seek approval from its shareholders to issue up […]

16 Feb 2021

QuotedData’s morning briefing 16 February 2021

In QuotedData’s morning briefing 16 February 2021: GCP Student Living (DIGS) has terminated WeWork’s lease on the commercial space at Scape Shoreditch. The 50,000 sq ft Grade A space is just a two-minute walk from Old Street Underground. WeWork had £2.3m of rent arrears up to the end of 2020. GCP Student Living has collected £3.1m […]

15 Feb 2021

Grit Real Estate reports 6.3% increase in NAV

Grit Real Estate, which invests in pan-african real estate assets (ex South Africa) has reported a 6.3% increase in EPRA net reinstatement value (NRV – one of the new EPRA reporting metrics for property companies replacing EPRA net asset value (NAV)) – over the six months to the end of December 2020. This increase (from […]

15 Feb 2021

QuotedData’s morning briefing 15 February 2021

In QuotedData’s morning briefing 15 February 2021: Tritax EuroBox (EBOX) has sold its asset in Lodz, Poland for €65.5 million, 15% above its most recent valuation at 30 September 2020 and, based on the company’s target gearing of 45%, delivering an attractive geared IRR of 16.5% to shareholders. They bought this is April 2019 and completed a […]

12 Feb 2021

QD view – Cheers to the property dividend hikes

After witnessing the anguish of property companies slashing dividends left, right and centre, at the start of the pandemic last year, it is encouraging to see news of dividend hikes now filtering through. Not all companies have experienced tenant distress during the crisis, and it is good to see that investors are being rewarded with a […]

12 Feb 2021

Target Healthcare REIT to raise £50m in placing

Care home investor Target Healthcare REIT has announced its intention to raise £50m through a placing to fund new acquisitions. The issue price of 111p per share represents a discount of 4.8% to last night’s closing price of 116.6p and a 2.6% premium to its last reported EPRA net asset value (NAV) of 108.2p (at […]

11 Feb 2021

Warehouse REIT buys four warehouses in Liverpool

Warehouse REIT buys four warehouses in Liverpool – Warehouse REIT has bought four modern warehouse units on Boulevard Industry Park in Speke, Liverpool, totalling 390,000 sq ft. The purchase price of £35m reflects a net initial yield of 5.5%. Ranging from 74,000 sq ft to 163,000 sq ft, the units are occupied by three separate occupiers […]

11 Feb 2021

QuotedData’s morning briefing 11 February 2021

In QuotedData’s morning briefing 11 February 2021: Schroder European Real Estate says that at its Metromar shopping centre in Seville (which it owns in a 50/50 joint venture) one of the fashion anchor tenants will exercise its lease termination right. This termination accounts for approximately 3,000 sqm (14%) of the total space. The rent due will continue […]

10 Feb 2021

QuotedData’s morning briefing 10 February 2021

In QuotedData’s morning briefing 10 February 2021 – Syncona, a leading healthcare company focused on founding, building and funding global leaders in life science, made note of the news that its portfolio company, Autolus Therapeutics announced the pricing of its underwritten public offering in the United States of 14,285,715 American Depositary Shares (“ADSs”) representing 14,285,715 […]

09 Feb 2021

St Modwen ramps up logistics exposure

St Modwen Properties has continued its focus on the thriving logistics property sector, which now accounts for 49% of its portfolio. In full year results to the end of November 2020, the company said this had grown from 39% a year previously and would accelerate growth. The group also has a strong focus on the […]

09 Feb 2021

QuotedData’s morning briefing 9 February 2021

In QuotedData’s morning briefing 9 February 2021 Nippon Active Capital looks to have scored a win as Mr. Shintaro Matsuki, President of Sakai Ovex Co., Ltd, using a special purpose company, Sakai Textile Co., Ltd., has launched a tender offer at ¥ 2,850 per common share for all of the outstanding equity capital of Sakai Ovex. […]

08 Feb 2021

QuotedData’s morning briefing 8 February 2021

In QuotedData’s morning briefing 8 February 2021 – Gabelli Value Plus+ (GVP) announced that it intends to convene a general meeting in July 2021 to consider a continuation vote resolution followed by a special resolution to place the company in members’ voluntary liquidation. GVP’s largest shareholder, Associated Capital Group, has irrevocably undertaken to abstain from […]

05 Feb 2021

QD view – Property tinkermen worth their weight in gold

There can be no doubt that the COVID-19 pandemic has changed the landscape in the property sector forever. So, it has been interesting to observe how different property companies have responded with the composition of their portfolios. Any manager worth their salt would have been exiting high street retail a long time ago. But it […]

04 Feb 2021

Alternative Income REIT collects 91.4% of rent

Alternative Income REIT has collected 91.4% of rent for the COVID affected final nine months of 2020. It said payment plans were in place on the remaining 8.6%. For the first quarter of 2021, it has collected 80.4% of quarterly billed rent and has agreed or is in the process of agreeing rent concessions with […]

04 Feb 2021

UK Commercial Property REIT posts 3.2% NAV rise

UK Commercial Property REIT has posted a 3.2% increase in net asset value (NAV) in the quarter to the end of December 2020. The group, which owns a diverse portfolio of property weighted to the industrial sector, saw the value of its portfolio rise 2.9% on a like-for-like basis in the period to £1.21bn. Together […]

04 Feb 2021

QuotedData’s morning briefing 4 February 2021

In QuotedData’s morning briefing 4 February 2021: SDCL Energy Efficiency Income Trust have announced a £100m placing (94.3m shares at 106p). The price is a 3.9% premium to the end September NAV and a 1.4% discount to last night’s closing price. The money would go into commercial and industrial solar projects across the United States in […]

03 Feb 2021

Standard Life Inv. Property Income posts 4.1% jump in NAV

Standard Life Investments Property Income Trust has reported a 4.1% increase in net asset value (NAV) in the quarter to the end of December 2020. NAV total return for the period (including the payment of dividends) was 5.0%. The increase in NAV, to 82.0p per share from 78.8p in September 2020, was primarily down to […]

03 Feb 2021

QuotedData’s morning briefing 3 February 2021

In QuotedData’s morning briefing 3 February 2021 – Chenavari Toro Income (TORO) reported annual results to 30 September 2020, with the total return NAV coming in at -11.2%. The share price total return was -15.2%. TORO’s chairman, Frederic Hervouet, noted that “TORO’s base case was assuming a second wave of defaults in H1 2021 with the annualised […]

02 Feb 2021

Lok’nStore’s development pipeline to add 33% to portfolio

AIM-listed self-storage company Lok’nStore has said its development pipeline will add 33.1% to the lettable area of its portfolio. The company gave an update on its new store development pipeline which comprises: The exchange of contracts to purchase a new 56,000 sq ft store in Staines that is due to open in 2022; The purchase […]

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