This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 21 January 2021: Schroder BSC Social impact says it has committed over 80% and invested over 55% of the net proceeds of its IPO. Most of the money went into buying seven investments that were listed in the prospectus. It has also bought £2.5m of bonds issued by Triodos Bank. Triodos lends to […]
Aberdeen Standard European Logistics Income (ASLI) has reported a 6% increase in the value of its portfolio over the quarter to the end of December 2020. The company’s portfolio of 14 continental European logistics assets are now worth €430.2m, up from €405.7m at September 2020. The group said net asset value (NAV) at 31 December […]
In QuotedData’s morning briefing 20 January 2021 – SME Credit Realisation Fund has announced a return of capital by way of a compulsory share redemption. £25m will be handed back by buying back approximately 18.0% of shares in issue at 84.77p per share (the NAV at the end of December 2020). holders of shares on […]
U and I Group, the developer and investor, has shaken up its senior management team after reporting losses of £50.2m in the six months to September 2020. The group has announced chief executive Matthew Weiner has stepped down from the role with immediate effect. Chief development officer Richard Upton has replaced him in the top […]
Impact Healthcare REIT has said it expects all residents of its care homes will be vaccinated by the end of January. The group said, as of 15 January 2021, residents at 60% of its homes had received the first dose, with residents at a further 15% schedules to have it this week. The remaining 25% […]
Town Centre Securities, which owns retail, office and car park assets in the UK, has collected 83% of rent since March last year. This includes a 76% collection rate for the first quarter of 2021. In all, it has received £20.4m of the £24.6m it has billed since March last year (83%). This rises to […]
Hammerson has received just 32% of rent due for the first quarter of 2021, highlighting the significant struggles of the retail sector during lockdown. The group said it had so far collected £19.8m of the £61.5m billed for the first quarter. A further £12.9m has been deferred or is not yet due due to monthly […]
In QuotedData’s morning briefing 19 January 2021; Hg has held a minority position in TeamSystem since 2015, following its majority exit to a vehicle indirectly held by Hellman & Friedman Capital Partners VII, L.P. A transaction has recently been agreed to transfer TeamSystem to a vehicle indirectly held by Hellman & Friedman Capital Partners IX, L.P. As […]
LXI REIT has increased its quarterly dividend guidance on the back of strong rent collection figures for the first quarter of 2021. It has received 96% of rent, which increases to 98% on receipt of rent deferrals agreed with tenants. As a result of the robust rent collection figures, it has increased its dividend target to […]
McKay Securities has collected 86% of rent for the current quarter, it has revealed. The group, which owns offices and industrial and logistics assets in London and the South East, said the first quarter collection figure increases to 91% when monthly payments are factored in. It also revealed that for the financial year to the […]
In QuotedData’s morning briefing 18 January 2021 – AVI Japan Opportunity (AJOT) is seeking to raise up to £35m in new ordinary shares under its existing placing programme. Joe Bauernfreund, CEO and CIO of Asset Value Investors, AJOT’s manager, commented: “We want to take advantage of valuations which in many cases remain depressed despite encouraging signs […]
A host of rent collection figures for the first quarter of 2021 have been announced by property companies and, once again, it is the logistics-focused companies leading the way. It is not that surprising given the well-documented rise in online retailing and the positive impact on demand for logistics space, but it does underline the strength of […]
Urban Logistics REIT has acquired a logistics site in the Wirral for £16.3m and announced rent collection for the first quarter of 2021 was 99%. The group has bought the 169,963 sq ft property in Bromborough at a net initial yield of 5.0% as it continues to deploy the proceeds of its recent fund raise. […]
Industrial and logistics giant SEGRO has revealed it has collected 98% of all rent billed for 2020, reflecting the strength of the sector. Broken down into UK and European portfolios, SEGRO has collected 97% of the £245m billed on its UK assets and 98% of the £172m billed in Europe. The group said it had […]
Central London office landlords Great Portland Estates and Helical have reported rent collection figures for the first quarter of 2021. Great Portland Estates The company has received 69% of rent due, which it said increases to 77% when the £2.1m of rent deposits it anticipates to utilise are included. As expected, its main issue has […]
CLS Holdings, which owns offices in the UK, France and Germany, has received 90% of rent for the first quarter of 2021. This compares with a rent collection in the same period last year (before the impact of COVID-19 was felt) of 91%. The group said the collection rate increases to 93% when taking into account tenants […]
LondonMetric Property has collected 98% of rent for the first quarter of 2021. The group, which has a large logistics portfolio as well as a long-income portfolio, said that of the £22.8m billed for the quarter and monthly for January, 98% has been received with a further 1% expected imminently. A sectoral split shows rent collection […]
Tritax Big Box REIT has reported a like-for-like increase in the value of its portfolio of around 8% in the six months to the end of December 2020. The group said the second half of 2020 saw a significant increase in the value of prime, larger scale, UK logistics real estate assets let to high calibre occupiers […]
In QuotedData’s morning briefing 14 January 2021: Polar Capital Global Financials has published a circular to convene a meeting on 1 February at which shareholders will be asked to approve the issue of up to 70,375,000 shares from treasury without pre-emption (first offering them to existing shareholders). The shares will be issued at a premium and […]
In QuotedData’s morning briefing 13 January 2021 – Riverstone Energy announced the commitment of $25m to Loanpal, LLC, described as the leading sustainable home improvement fintech provider used in over half of US residential solar system sales. Riverstone global energy & power fund VI also participated in the transaction, investing $50m for a total investment of […]
Schroder European REIT has announced it collected 89% of rent for the final quarter of 2020. This was ahead of the previous two quarters collection rate, which stands at 87%. The company also announced its quarterly portfolio valuation, which increased by 1.4% on the September 2020 valuation to €276.1m. The valuation increase was driven by […]
Derwent London, the central London office developer and owner, has collected 83% of rent for the first quarter of 2021. The group said it has received 87% of the £40.9m office rent for the quarter, which is higher than the previous two quarters at an equivalent time. It has received just 26% of the £3m it […]
Land Securities has received just 50% of normal rental levels for the first quarter of 2021. The company, which predominantly owns a large retail portfolio and London offices, had collected £66m of the £112m due five days after billing tenants on 25 December 2020. It collected 81.25% of the £64m rent due from its office […]
Irish commercial property owner Yew Grove REIT has announced it has collected almost 100% of rents for the first quarter of 2021. All quarterly rent billed for the current quarter at the end of December, which accounts for 90.35% of its rent roll, has been received. Just €3,175 of the monthly rental agreements, which account […]
LondonMetric Property buys two urban logistics warehouses – LondonMetric Property has bought two urban logistics warehouses in Manchester and Birmingham for £39m, reflecting a blended yield on cost of 4.25%. The newly built warehouses are let for 15 years at an average rent of £6.60 psf and benefit from RPI linked rent reviews. In Manchester, […]
In QuotedData’s morning briefing 12 January 2021: UK Mortgages Limited is launching Hops Hill No.1, a securitisation of the portfolio of first ranking, buy-to-let mortgage loans originated by Keystone Property Finance. Keystone have been originating loans for UKML for the last two years with warehouse financing provided by NAB. The portfolio size reached almost £340m by 31st […]
Student accommodation specialist Unite has announced a rent discount for students following the latest lockdown in the UK. It said its student tenants will be able to apply for a discount of 50% of their rent for a total of four weeks and, in addition, will be given a four-week complimentary extension of their tenancy agreement […]
British Land has provided an update on operational performance in which rent collection was at 71% for the first quarter of 2021. The group said of the £86m billed (which doesn’t include Scottish assets that are billed in February and quarterly payments for February and March), 24% was outstanding – the majority of which was […]
In QuotedData’s morning briefing 11 January 2021 – Tufton Oceanic Assets (SHIP) announced the acquisition of a stainless steel Chemical Tanker for $15.2m, taking its fleet size to twenty vessels. SHIP says it will be employed in a leading chemical tanker pool. Ground Rents Income Fund (GRIO) has responded to leasehold reform proposals that would reduce […]
Forced closures, withheld rent and suspended dividends, the real estate sector had a tumultuous 2020. There were, however, some property sectors and companies that performed well during the year. So, what can be gleaned from looking at the performance of individual property companies during an unprecedented year of disruption, especially as we enter a third […]
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