This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 11 December 2020 – Over its half-year period to 31 October 2020, Atlantis Japan Growth (AJG) delivered a total NAV return of 27.3%. This compares with the TOPIX total return index of 7.3%. In the results release, it is noted that “the manager believes that Japan’s economy has bottomed out and has […]
In QuotedData’s morning briefing 10 December 2020: Riverstone Energy got through its discontinuation vote – shareholders voted against the resolution by 88.8% to 11.2%. Baring Emerging EMEA Opportunities reported an NAV total return of -22.3% for the year ended 30 September 2020 compared to a return on its benchmark of -22.6%. The trust’s Turkish exposure held it […]
Aberdeen Standard Investments (ASI) is set to acquire a 60% interest in Tritax Management, the fund manager behind Tritax Big Box REIT and Tritax EuroBox. The move by ASI comes as it looks to strengthen its offering in the growing logistics real estate market. Tritax specialises in logistics and has around £5.1bn assets under management […]
LondonMetric lets Birmingham logistics warehouse – LondonMetric Property has exchanged contracts with a global retail company on a new 15 year lease at an annual rent of £1.6 million, subject to upward only inflation linked rent reviews, at its Tyseley development near Birmingham. The 120,000 sq ft last mile logistics warehouse will mark the completion of […]
Aberdeen Standard European Logistics recognised for environmental improvements – Aberdeen Standard European Logistics has been awarded four Green Stars out of a maximum of five in the recently released survey of GRESB (Global Real Estate Sustainability Benchmark). This latest scoring reflects the progress made to date with regards to environmental, social and governance (“ESG”) factors thanks to […]
In QuotedData’s morning briefing 8 December 2020 – Syncona’s Autolius reported positive results in its ALLCAR Phase 1 study, where it is using AUTO1 to treat Adult Acute Lymphoblastic Leukemia. COVID has delayed phase 2 – it says that “…enrolment projections have had to be adjusted. We now expect to enroll patients throughout 2021 with a […]
Land Securities has acquired a City of London office building for £87m, reflecting a net initial yield of 4.1%. The company has bought 55 Old Broad Street, EC2, which comprises 100,000 sq ft, from PGIM Real Estate. The 10-storey building wraps around Land Securities’ City office tower Dashwood and is located a two minute walk […]
Warehouse REIT has acquired an industrial estate in Milton Keynes for £17.5m. The company has bought the Granby Industrial Estate, which comprises 24 urban logistics and trade counter units, for a net initial yield of 5.7%. The 10-acre estate offers 147,000 sq ft of gross lettable area which is let to 16 tenants, across 19 of […]
CLS Holdings has exchanged contracts to acquire two office properties in Berlin, Germany, and Watford, United Kingdom, for a combined total of £55.9m. In Berlin, the group has bought Kaiserin-Augusta-Allee 112 & 113 for €43.5m. The asset is comprised of two adjoining building and has six storeys totalling 93,775 sq ft. It is currently 29% let following the […]
The proposed debut listing on the International Property Securities Exchange (IPSX) has been postponed. The initial public offering (IPO) of shares in the Mailbox REIT, which owns the Mailbox, a large prime office-led mixed use property in Birmingham, has been postponed due to a potential acquisition of M7 Real Estate by a global institutional commercial […]
QuotedData’s weekly news show 4 December 2020 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: Polar Capital Global Financials’ remarkable share price rise Invesco Income Growth’s planned merger Golden Prospect Precious Metals’ influx […]
On Tuesday next week we will hold the third and final day of our ESG conference and the main focus will be on governance. The importance of this area to investors cannot be understated. Just think of the damage done at BHS, Carilion, Wirecard, Patisserie Valerie, Boohoo and Volkswagen. It wasn’t just investors taking the […]
The retail Armageddon took another sobering twist this week, with the liquidation of department store Debenhams and former high street fashion kingpin Arcadia Group going into administration. The headline numbers are shocking, the main one being that around 25,000 jobs are at risk. From a property point of view, the double collapse could see up […]
Gravis Capital Management Limited (Gravis), the manager of GCP Infrastructure, GCP Student Living and GCP Asset Back Income, has announced that it has entered into a strategic partnership with ORIX Corporation (ORIX) whereby ORIX will acquire a 70% equity stake in the Gravis business. ORIX is a diversified financial services group. The announcement says that ORIX’s […]
Landsec has announced that it has exchanged contracts to sell 1 & 2 New Ludgate to Sun Venture for a cash consideration of £552m. Completion is expected to take place by the end of December 2020 and is unconditional. Landsec says that the proceeds will initially be used to pay down debt before being reinvested […]
Great Portland Estates (GPE) has announced it has let 17,700 sq ft of office space at The Hickman development at 2/4 Whitechapel Road, E1 to Four Communications Group Limited (Four), an integrated marketing and communications agency. Four will occupy the offices on the fifth, sixth and seventh floors at The Hickman on ten-year leases (with […]
Tritax EuroBox will acquire assets earlier in the development process as it refines its acquisition strategy to a more value-add approach. The company said the move would “support the delivery of secure and attractive dividends and capital growth for shareholders”. As well as buying sites at an earlier stage in their development, it will also […]
St Modwen Properties has continued to ramp up development of industrial and logistics assets, as it looks to take advantage of occupier demand in the sector. In a trading update this morning, the company said it had completed 1.2m sq ft of developments in the sector this year, an increase on the 0.9m sq ft […]
Derwent London sells Johnson Building – Derwent London has exchanged contracts to sell its 192,700 sq ft freehold interest in Johnson Building, 77 Hatton Garden and 5-7 St Cross Street EC1 to Eurazeo Patrimoine, the real assets division of Eurazeo. The headline price is £170m before rental top-ups of £2.4m for incentives and vacant space. The […]
In QuotedData’s morning briefing 3 December 2020: Jupiter UK Growth’s board has agreed in principle to a voluntary winding up of the company and the offer of cash or a rollover into an open-ended UCITS fund, the Brown Advisory Global Leaders Fund. The rollover fund’s investment objective is to achieve capital appreciation by investing primarily in […]
Tritax EuroBox has acquired an asset in Belgium for €31.2m, bringing the group to full deployment of equity and debt. The newly built 34,125 sqm logistics facility in Nivelles, south of Brussels, comprises two units (one of 18,140 sqm and the other 15,985 sqm) and will be bought from Logistics Capital Partners, a European developer and […]
Residential Secure Income REIT (RESI) has published its annual results for the year ended 30 September 2020 in which it shows resilience in its performance. The announcement provides a summary of the key highlights in a number of areas, and these are reproduced below. Financial highlights – Resilient performance from existing portfolio Robust performance through […]
Custodian REIT posted a 6.3% drop in net asset value (NAV) in interim results today as the COVID-19 pandemic continued to impact its portfolio. The company reported a NAV per share of 95.2p (March 2020: 101.6p), after a 5.1% fall in the value of its property portfolio during the six months to the end of […]
Sirius buys Nuremberg business and industrial park – Sirius Real Estate has notarised the acquisition of a multi-tenanted business park in Nuremberg for a total acquisition cost of €13.7 million, reflecting an EPRA net initial yield of 7.1%. The purchase will be funded from existing cash resources, with completion expected in January 2021. Sirius is acquiring […]
Alternative Income REIT buys retail park – Alternative Income REIT has exchanged contracts to acquire the Droitwich Spa Retail Park for £4.75m, in an off market transaction. The price represents a discount to replacement cost and reflects a net initial yield of 7.95%. This is the first deal that the trust has done led by its […]
In QuotedData’s morning briefing 1 December 2020: Polar Capital Global Financials says that George Barrow has been appointed as joint fund manager of the trust, alongside Nick Brind and John Yakas. George joined Polar Capital in September 2010 and has over 10 years’ experience analysing Europe, Asia and emerging markets. Prior to joining Polar Capital, he […]
Civitas Social Housing has posted a solid set of interim results in which most metrics saw positive moves. Its IFRS net asset value (NAV) per share nudged up slightly to 108.01p in the six months to the end of September (March 2020: 107.87p). The group’s property portfolio was valued at £898.5m, up 6.77% on last […]
Custodian REIT buys Derby industrial units – Custodian REIT has acquired four industrial units covering an aggregate 23,250 sq ft on Hilton Business Park, Derby, one mile from the A50 which connects the M1 and M6. The units are occupied by M P Bio Science, Shakespeare Pharma and Jangala Softplay with a weighted average unexpired term to […]
In QuotedData’s morning briefing 30 November 2020: The Renewables Infrastructure Group raised £200m from its placing last week, and plans to issue 160m shares. The issue was oversubscribed. Technically, it might still not happen as the issue was done on the expectation that shareholders approve the issue of these shares at an EGM to be held […]
QuotedData’s weekly news show 27 November 2020 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 IPO Nippon Active Value’s plan to bid for a company CC Japan’s plan to issue […]
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