This sector includes mortgage companies, property management companies and REITs
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 […]
Secure Income REIT has announced it has collected 98.6% of rents due for the first quarter of 2021. The company said this included rent due from Alton Towers owner Merlin Entertainments, following the end of their six month rent deferral period, and the new contractual rents agreed with Travelodge. The deferred rent from Merlin for […]
In QuotedData’s morning briefing 8 January 2021: The Schiehallion Fund has announced that it is considering an issue of C shares to institutional and professional investors at a price of US$1.00 per C share. The company says that the size of the issue is still to be determined, but it does not currently expect that the […]
In QuotedData’s morning briefing 7 January 2021, as the Democrats win control of the Senate and the US Capitol building is invaded, the news in the investment companies industry is a bit more mundane: Hipgnosis Songs has entered into an agreement with a syndicated group of lenders, with JPMorgan Chase Bank as lead arranger, to increase its […]
In QuotedData’s morning briefing 6 January 2021 – Middlefield Canadian Income (MCT) noted that one of its recently acquired holdings, Brookfield Property Partners, is to be taken private in a US$5.9bn deal for the remaining 40% stake not owned by Brookfield Asset Management and a group of investors Hg Capital Trust (HGT) is to invest around £15.7m in […]
In QuotedData’s morning briefing 5 January 2021: Apax Global Alpha says that Apax IX (one of the underlying funds that make up its portfolio) is selling a minority stake in Paycor. The transaction values the trust’s investment in Paycor at approximately €51m. This represents an uplift of about 30% and adds about €11.8m (€0.02 per share) to […]
Sirius Real Estate, the owner and operator of business parks in Germany, has completed the acquisition of three assets totalling €26m, signalling a return to acquisitive growth for the company after holding back whilst assessing the impact of COVID-19. The acquisitions are in Norderstedt, Hamburg for €9.1m, Nuremberg for €13.7m and Mannheim for €3.2m. They generate […]
In QuotedData’s morning briefing 4 January 2021 – SDCL Energy Efficiency Income (SEIT) announced the acquisition of an additional 15% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar LLC for a cash consideration of approximately $36m. SEIT acquired an initial 50% interest in Primary Energy in […]
In QuotedData’s morning briefing 29 December 2020 – Supermarket Income REIT (SUPR) has bought a Waitrose supermarket in Market Harborough, Leicestershire from Alpha Real Estate for £9.1m. The investment represents a net initial yield of 4.3%, with an unexpired lease term of 19 years. Schroder British Opportunities (SBO) announced an investment into Graphcore, described as a leading machine […]
In QuotedData’s morning briefing 24 December 2020: Gresham House Energy Storage has conditionally agreed to acquire a c.30MW battery project located near Wester Dechmont, Livingston in West Lothian, Scotland. Byers Brae is a battery-only site with a c.30MW/30MW export/import capacity which is currently expected to be commissioned in the second quarter of 2021. The project is […]
British Land (BLND) announced it has exchanged upon the sale of a 75% interest in a portfolio of three buildings in London’s west end to Allianz Real Estate (acting on behalf of several Allianz Group companies) for £401m. The transaction represents a blended net initial yield of 4.32%, a premium to September book value and is […]
In QuotedData’s morning briefing 23 December 2020 – International Public Partnerships (INPP) made an additional €10m investment and a contingent commitment of a further €14m to the 100% indirectly owned special purpose company that owns the Northern Diabolo Rail Link (Diabolo). Diabolo is a rail infrastructure investment which integrates Brussels airport with Belgium’s national rail […]
Stenprop buys three more industrial estates – Stenprop has acquired three multi-let estates in Edinburgh, Cardiff and Wigan for a total consideration of £11.82m. The 81,495 sq ft estate in Wentloog, Cardiff has been acquired for £6.25m, reflecting a net initial yield (“NIY”) of 6.3%, in an off-market transaction. It currently generates a total annual […]
Warehouse REIT buys 200,000 sq ft of last mile warehouses – Warehouse REIT has bought a portfolio of four single and multi-let distribution warehouse assets for £18.6m. The purchase price reflects a blended net initial yield of 6.1%. Situated in key strategic last mile distribution hubs within the North West and the West Midlands, the 200,000 […]
UK Commercial Property buys Asda in Torquay – UK Commercial Property REIT has completed the acquisition of an ASDA supermarket in Torquay, Devon, from Aviva Investors for £16.6m, representing a net initial yield of 4.70%, rising to 5.24% in July 2021. The 33,000 sq ft supermarket in Torquay is fully let to ASDA on a long […]
In QuotedData’s morning briefing 22 December 2020: The Renewables Infrastructure Group has exchanged contracts to invest in Phoenix SAS, which owns a portfolio of operational wind and solar renewable energy assets. The portfolio comprises five onshore wind farms in Northern France with a combined capacity of 74MW and four operational solar parks with battery storage located […]
In QuotedData’s morning briefing 21 December 2020 – Schroder British Opportunities (SBO) announced its investment into Learning Curve Group (LCG), described as a leading private UK training and education specialist. SBO invested alongside Agilitas, a pan-European mid-market private equity firm. LCG represents SBO’s first private equity investment. LCG provides opportunities for over 120,000 learners and 4,500 employers […]
AEW UK REIT (AEWU) has announced that it has unconditionally exchanged contracts to sell Sandford House, Homer Road, Solihull for £10.5 million. The sale is due to complete on 1 February 2021 and the Company will receive income from the asset until this date. Subsequent to this, the Investment Manager intends to reinvest sale proceeds on behalf […]
Schroder Real Estate Investment Trust (SREI) has announced that it has completed the acquisition of Stanley Green Trading Estate together with an adjoining development site in Cheadle, South Manchester, for a total consideration of £17.25 million, reflecting a blended net initial yield of 5.2%. This is in line with the strategy to selectively deploy available […]
Capital & Regional says things are perking up – 98% of its stores, comprising 621 shops, are back open and trading across the its seven shopping centres, following the end of the national lockdown on 2 December 2020. During the lockdown approximately 38% remained open including both retailers providing essential goods and services and those […]
In QuotedData’s morning briefing 17 December 2020: Schroder BSC Social Impact Trust has raised gross proceeds of £75m from its IPO. The company will use part of the net proceeds to acquire seven assets from Big Society Capital with the balance of the net proceeds to be invested in accordance with the company’s investment policy and/or used […]
Retail park investor and developer Ediston Property Investment Company has delivered a net asset value (NAV) total return for the year to 30 September 2020 of -16.6% as COVID impacts the value of its properties. Operationally, the year was a strong one despite the effects of the pandemic. The group carried out eight asset management […]
In QuotedData’s morning briefing 16 December 2020: Ruffer backs Bitcoin – in a surprise move, the trust says “One recent addition, via one of the specialist managers appointed within the Ruffer Multi-Strategies Fund, has been bitcoin. This is primarily a defensive move, one made in November after reducing the company’s exposure to gold. The exposure to […]
The impact of the COVID-19 pandemic on London’s West End was laid bare in Shaftesbury’s full year results, which saw net asset value (NAV) fall 24.3%. The company, which owns a 16-acre portfolio of assets in London’s West End including Carnaby Street, posted an EPRA NAV of £7.43 per share at 30 September 2020 (2019: […]
Grit Real Estate Income Group, the pan-African real estate company, has reported a big drop in net asset value (NAV) as a result of the impact of COVID-19 on its retail and hospitality properties. The group’s NAV per share for the year to the end of June 2020 was US$1.186 compared to US$1.471 at June […]
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