Alpha Real Trust has succeeded in having the challenge from Logix Group to the Arbitration Award dismissed by the Division Bench of the Delhi High Court. Following a further appeal by the Logix on 8 May 2017 the Division Bench of the Delhi High Court upheld the award declared in favour of the company by the […]
Custodian REIT has acquired three units within the 33,270 sq ft Coypool retail park in Plymouth, near the town centre and adjacent to the A38 Devon Expressway. The units are occupied by Oak Furniture Land, SCS and McDonald’s, with nearby retailers including Bensons for Beds, B&M, Harveys Furniture, Next Home and DFS. The units’ leases […]
Epiris has announced that its portfolio company AXIO Group has agreed the sale of TechInsights, a leading intellectual property and technology services provider, to Oakley Capital. The sale, which is expected to complete in the next two weeks, is the seventh and final major realisation from AXIO’s portfolio and will conclude what has been an […]
Custodian REIT has acquired a 27,480 sq ft car dealership, located within York’s ‘motor alley’ two miles from York city centre and adjacent to the A1237 ring road. Nearby occupiers include Vauxhall, Audi, BMW, Mercedes-Benz, Toyota and Volkswagen. The property is let to Pendragon Property Holdings Limited (trading as Evans Halshaw Peugeot and Citroen) on […]
Toro’s dividend target has been increased to at least EUR 0.08 per ordinary share per annum, compared to the initial target of EUR 0.05 (annualised) stated in the prospectus published in connection with the company’s May 2015 IPO. This follows the dividend increase to EUR 0.015 per ordinary share for Q1 2017 announced on 24 […]
Harbourvest Private Equity says that, in the year to 31 January 2017, its USD NAV per share grew by 10.3%. Unlike the previous year when NAV performance exceeded the total return of the MSCI All Country World Index by 12%, on this occasion growth of 10.3% was somewhat less than the return on that index which […]
Drum Income Plus Real Estate Investment Trust has acquired Kew Retail Park in Southport for GBP8.65 million. The 53,858 square foot investment is currently occupied by Poundstretcher, Carpetright, Wickes, Carphone Warehouse, Dreams and Sofology. The purchase price reflects an acquisition yield of 8.78% and bolsters DRIP REIT’s presence in the North West, where it already has […]
Tritax Big Box REIT has announced the results of its Placing, Open Offer and Offer for Subscription of Ordinary Shares. Investor demand for the issue has significantly exceeded the targeted size of GBP200 million. The Board, after careful consideration with the Manager and in consultation with its Joint Financial Advisers, has exercised its right to increase the […]
In what seems like record time (less than six weeks) , 3i Infrastructure has today published its results for the year ended 31 March 2017. The chairman says that the company has had a strong year, completing six new investments totaling GBP479 million, executing a successful capital raise and delivering their target dividend of 7.55 pence per share for […]
Traditionally, the listed UK property sector was all about offices, warehouses and shops but, increasingly, residential property is coming into the mix. A couple of weeks ago I looked at two real estate investment trusts (Reits) focused on investments in care homes: Target Healthcare (THRL) and touched on the newly launched Impact Healthcare (IHR). We […]
Caledonia Mining has lowered its gold production guidance for 2017 from 60koz to 52-57koz. The company cites lack of capacity underground to transport material while capital development to achieve the long-term goal of 80koz of gold production is underway. Management has concluded that, in the long term interests of the business, the 2017 production tonnage […]
This week I thought I would take a look at FastForward Innovations (FFWD). It is not the biggest fund with a market value of £16.8 million, but it does live up to its name as the company and its portfolio is evolving constantly. FFWD is a Guernsey-domiciled investment company born from the ashes of China Growth Opportunities and […]
SQN Asset Finance Income (SQN) has released an announcement that says one of its borrowers failed to make an interest payment scheduled for 31 March. Although SQN didn’t name the borrower, it is obvious from the context and information published elsewhere that it is Suniva, a Georgia and Michigan-based manufacturer of photovoltaic solar cells and […]
International Public Partnerships has successfully completed its Placing, Open Offer and Offer for Subscription. Due to significant oversubscription from new and existing investors and after conducting a significant scaling-back exercise for non-pre-emptive allocations, the Board has elected to issue the maximum new shares available, raising gross proceeds of GBP330 million. The level of additional demand […]
Many investors have a bias against funds of funds because they charge management fees on top of the fees being paid to the managers of the funds in their portfolios. Often though, these funds do produce decent performance. One listed fund of funds exemplifies this situation – TR Property (TRY) managed by Marcus Phayre-Mudge only […]
The private equity sector has been going through something of an upheaval over the past couple of years. Many of the funds within it are in wind down mode and new issues in the sector are rare. Epiris, the team behind the success of Electra (ELTA), have been busy selling off its portfolio ahead of […]
Alliance Trust (ATST) has completed the buyback of Elliott’s stake in the company and removed the immediate threat to its future existence – but now the hard work starts. It will be looking to deliver measurable outperformance of its peer group and its benchmark in order to secure its long-term future. Shareholders are still heading […]
Civitas Social Housing REIT has completed the purchase of two portfolios of regulated social housing for a total consideration of GBP19.3 million, comprising the freehold interest in 19 supported living properties, with 98 tenancies. The portfolios are immediately income generating with initial net yields in line with the company’s expectations and both were sourced off-market by […]
Polar Capital Global Healthcare Growth and Income Trust has announced further details of its proposals for the future of the company. Subject to the approval of shareholders and final regulatory approvals as required, it is proposed that: the existing investment mandate will be changed to a growth mandate. They expect to pay a dividend going forward, […]
AEW UK REIT has announced the acquisition of industrial assets in Basildon, Essex and Runcorn, Cheshire, for a total of c GBP2.6 million. Basildon comprises a 33,000 sq ft single-let industrial building located on the established Pipps Hill Industrial Estate, just off the A127, approximately five miles from Junction 29 of the M25. The purchase […]
International Public Partnerships Limited has acquired an additional interest in the Wolverhampton Building Schools for the Future (“BSF”) project. INPP will commit a further GBP1.536 million to acquire Carillion Private Finance’s 8% indirect investment in each of phase I and phase II of the Wolverhampton BSF scheme, growing the existing 82% investment in the project […]
The Board of LXi REIT has exchanged contracts to provide forward funding for the development of a new discount retail park in Bradford, Yorkshire, pre-let to Aldi and T. J. Morris Limited (trading as Home Bargains). The development represents an investment of GBP10 million, reflecting a blended net initial yield of 6.15% on the asset […]
Dolphin NAV’s crashes as Aristo takes its toll Annual Financial Results for the year ended 31 December 2016 show that Dolphin Capital, an investor in high-end residential resorts in the eastern Mediterranean, saw its gross Assets of drop to EUR466 million (2015: EUR911 million). The sterling NAV per share as at 31 December 2016 stood at 25p before […]
The PRS REIT plc, a closed-ended real estate investment trust established to invest in the Private Rented Sector, has today announced its intention to seek admission to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange plc and an associated fund-raising of up to £250 million by way of a […]
Following its recent successful placing, Real Estate Credit Investments is pleased to announce that it has made a new GBP20m loan commitment as part of an overall Cheyne transaction providing a senior facility secured against a high quality residential development asset in central London. The conservative Loan to Gross Development Value (LTGDV) is under 50% […]
Impact Healthcare REIT has completed the acquisition of the Core Seed Portfolio and the Mulberry Portfolio for a total consideration of GBP148,754,000. All outstanding lending facilities have been repaid in full and the Seed Portfolio has been acquired debt-free by the Company. The terms of the acquisition are in accordance with the prospectus published by […]
The Board of Geiger Counter Limited is reviewing, with its advisers, a potential bonus issue of subscription shares to existing shareholders on the basis of one subscription share for every two existing ordinary shares held on the record date for the bonus issue. Each subscription share would confer the right (but not the obligation) to […]
For fourteen consecutive years BlackRock Smaller Companies has outperformed its benchmark and increased its dividend. Over that period, the NAV has grown nearly ten-fold whereas the benchmark has almost quadrupled. The compound annual increase in dividends paid over the past five years has been 20% per annum. During the year to 28 February 2017, the NAV increased […]
Invesco Asia Trust has announced that, as its discount was wider than 10% on average over the year to 30 April 2017, a tender offer for 15% of its shares at a 2% discount has been triggered. The average discount over the measurement period was 10.9%. The record date for participation in the tender offer […]
