This sector includes mortgage companies, property management companies and REITs
Regional REIT has acquired two offices, in Swansea and Bristol, for £10.2m at a combined net initial yield of 10.1%. The group, which owns a diverse property portfolio in regional UK locations, has bought Waterside Business Park in Swansea and 2410 Aztec West in Bristol. Combined, the assets have a weighted average unexpired lease term (WAULT) to […]
LXI REIT has announced a 6% increase in its quarterly dividend having collected 97% of rents so far for the current quarter. The company, which owns a portfolio of long-let, index-linked property, has increased the dividend guidance to 1.44 pence per share for the quarter ending December 2020. It said the dividend is expected to […]
In QuotedData’s morning briefing 5 October 2020: Tufton Oceanic (SHIP) announced the acquisition of two product tankers for an outlay of $23m, taking the fleet to 18 vessels. Both vessels have fixed-rate time charters deals for three to five years with a major commodity trading and logistics company. We also have news of a $182m […]
QuotedData’s weekly news show 2 October 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: Jupiter UK Growth’s decision to give up Strategic Equity Capital’s new manager He then handed over to Andrew McHattie, who talked […]
IPOs take off – After a long hiatus, the investment company IPO market appears to be taking off. At present, Nippon Active Value is the only new trust to have launched this year. However, a queue of potential new funds is forming and we will soon find out which of them will make it across the […]
After years in the making, the International Property Securities Exchange (IPSX) could have its watershed moment. The first company announced its intention to float on the exchange this week, which if successful could signal a transformation in the way investors gain exposure to property assets. IPSX was established to enable the listing of individual properties […]
Regional REIT disposes of Juniper Park – Regional REIT (RGL) has announced it has completed on the sale of Juniper Park, Basildon for £32.7m. This disposal reflects an uplift of 59.4% from the acquisition price, including subsequent capital expenditure, and 3.9% above the 30 June 2020 valuation. About Juniper Park Juniper Park is a 277,760 sq. […]
In QuotedData’s morning briefing 2 October 2020: It’s a bit of a slow day, but we do have annual results from Henderson Eurotrust (a very strong performance despite challenging markets), the IPO of RTW Venture’s PulmonX Corporation, annual results from JPMorgan Emerging markets and the disposal by Regional REIT of Juniper Park, Basildon, Essex, for £32.7m. Elsewhere, US […]
NewRiver REIT (NRR) has sold a 90% stake in a Northern Ireland retail park for £34.7m. The group has sold the stake in Sprucefield Retail Park, in Lisburn, to its joint venture partner BRAVO for a net initial yield of 9.0% and a 5% discount to its March 2020 valuation. NRR has now sold £50.4m of […]
Inland Homes has sold two build to rent schemes in its Centre Square and Buckingham House developments in High Wycombe for £52.8m. The brownfield developer and housebuilder has sold Centre Square, a 123-unit scheme, for £31.5m and Buckingham House, an 85-unit scheme, for £21.3m. The Centre Square sale has been structured so that £15.75m is paid upfront, with monthly […]
Newly formed single asset real estate company Mailbox REIT has announced its intention to raise £62.5m in an IPO and be the first company to list on the International Property Securities Exchange (IPSX). Mailbox REIT owns the Mailbox, a large prime office-led mixed use property in Birmingham that has been independently valued at £179m, and will […]
Schroder European REIT (SERE) has forward sold an office in Paris for €104m, delivering a net profit of 35% and increasing the company’s net asset value by 15%. The sale of the Boulogne-Billancourt office asset, which was originally acquired in 2016 for €37.5m, is structured as a forward funding, with the building being handed over to […]
In QuotedData’s morning briefing 1 October 2020: Octopus Renewables Infrastructure Trust is buying four solar PV sites in Andalucia, which are expected to be ready to build by January 2023. The assets will have a total installed capacity of 175MWp and are expected to become operational in early 2024. The company is not taking any development risk […]
Supermarket Income REIT announced its intention to raise £150m in a placing at an issue price of 104p per share, earlier this month. The issue price represents a discount of 6.3% to the closing price on 16 September 2020 and a 3% premium to its last reported NAV at 30 June 2020. The group’s investment […]
Aberdeen Standard European Logistics Income (ASLI) has reported solid half-year results with a net asset value (NAV) total return of 4.2%. The company, which owns a portfolio of 14 logistics assets across Europe, posted an unaudited NAV per share of €1.13 (103.0p), compared with the NAV per share of €1.11 (94.21p) at the end of 2019. […]
In QuotedData’s morning briefing 30 September 2020: The growth capital sector company, Schroder UK Public Private (SUPP), released interim results to 30 June 2020. The NAV declined by 8.1% (the decline since 1 April has been 1.5%). The following is an extract from the accompanying manager’s report: “Over this reporting period, the impact of the […]
Ceiba Investments, the owner of Cuban commercial real estate, reported interim results today that saw net asset value fall 8.9% due largely to big valuation falls in its hotel properties. The company is debt free and its four-strong hotel portfolio is capitalised to the tune of $40m, which is more than enough to comfortably see […]
In QuotedData’s morning briefing 29 September 2020: Greencoat UK Wind’s issue was well oversubscribed. It has raised £400m and will issue over 305m shares. The money will be used to pay down debt to £600m (21% LTV). PRS REIT says that it has arranged an additional £50m of debt facilities with Barclays Bank, taking its total […]
Ediston Property Investment Company (EPIC) has announced it has started construction of a retail park, in a vote of confidence for the retail sub-sector. The 48,000 sq ft retail park and petrol filling station in Haddington, East Lothian (near Edinburgh), is 97% pre-let to Aldi, Home Bargains, The Food Warehouse, Costa Coffee and Euro Garages. Construction […]
In QuotedData’s morning briefing 28 September 2020: CVC Credit Partners European Opportunities (CCPE/CCPG) reported interim results to 30 June 2020, with NAV total returns for the Sterling and Euro share classes coming in at (7.95%) and (8.45%), respectively. Chairman, Richard Boléat, had this to say: “Performance of risk assets as a whole since 30 June has […]
In QuotedData’s weekly news show 25 September 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: Temple Bar appointing RWC Asset Management Bluefield Solar’s results Hipgnosis launching £250m fundraise but ‘only’ raising £190m KKV Secured Loan is […]
The brakes have been well and truly pumped on any positive sentiment that may have been building in the real estate sector. After the successful ‘Eat Out to Help Out’ scheme and the government urging people to get back to the office, there was some light at the end of the deep, dark tunnel. That […]
Shaftesbury, the REIT that owns a 16-acre property portfolio in the heart of London’s West End, has collected just 41% of rent in the six months to 30 September 2020. The group, which owns properties in Carnaby Street, Soho, Chinatown and Covent Garden, also said vacancy across its portfolio had jumped from 4.8% at the […]
U and I Group has announced that a positive planning decision has been made in favour of its Kingstanding trading scheme on the outskirts of Tunbridge Wells in Kent. U and I says that all planning matters have been addressed by the planning committee and the scheme is only subject to the resolution of Highways […]
Aim-listed Circle Property has announced its annual results for the year ended 31 March 2020, during which its Chief Exec, John Arnold, has described the company as delivering “a very resilient performance”. The Company has provided the following key highlights from its results: Financial Highlights: Resilient Performance Further 3% growth in Net Asset Value (“NAV”) […]
In QuotedData’s morning briefing 25 September 2020: Menhaden has published its interim results for the six months ended 30 June 2020. During the first half of the year, Menhaden’s NAV per share fell 4.3% on a total return basis (2019: rose 13.0%), while the market value of the Company’s shares decreased by 13.0% (2019: increased […]
UK Commercial Property REIT (UKCM) has reported a 6.6% fall in net asset value for the six months to the end of June 2020. The company’s NAV has been hit by a drop in the value of its property portfolio during the COVID-19 pandemic, which fell 11.6% to £1.22bn in the period. NAV per share […]
In QuotedData’s morning briefing 24 September 2020 Good progress with the construction of Gore Street Energy Storage’s Irish assets has helped deliver a 1.6p increase in the fund’s NAV over the second quarter of 2020 to 96.2p. An interim dividend of 2p has been declared, making 7p in total for the year ending 31 March 2020. […]
Home REIT prospectus published Home REIT’s prospectus has been published and, if you were waiting to read it having read our IPO note, here it is – click here The timetable is fairly short. Applications under the intermediaries offer close at 5pm on 6 October. For the offer for subscription it is 11am on 7 […]
In QuotedData’s morning briefing 23 September 2020 – Hg, the Manager of HgCapital Trust (HGT) announced the sale of A-Plan Group, one of the UK’s largest specialist insurance intermediaries, to Howden. The deal is subject to regulatory approval. This transaction values HGT’s current investment in APG at £21.5m. This would represent an uplift of £3.2m (18%) over […]
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