Custodian REIT has made its third acquisition, buying a 49,919 sq ft distribution warehouse near Biggleswade let to Turpin Distribution Services on a lease that expires in 2019. The price of £3.785m equates to an initial yield of 7.5%.
Picton Property Income has published results for the year that ended on 31 March 2014. Over the year its net asset value rose from 49p to 56p. Dividends paid fell from 3.5p to 3.0p. The total return on net asset for the year was 21.6% but the total return to shareholders was 50.2% as the company’s […]
Standard Life Investments Property Income was on the other side of three of the four deals that New River Retail announced yesterday. SLI sold Halfords in Paiseley, Poundstretcher in Wymondham and Clough Road Retail Park for £11.89m. The aim of the deal from SLI’s point of view was to reduce its exposure to upcoming tenant lease […]
GCP Sovereign Infrastructure has released a statement to update shareholders on the difficulty of investing its IPO proceeds. They say that “Whilst the Company has reached substantive agreement with Borrowers in relation to transactions in a total size of c$100m, the due diligence process has highlighted risks which GCP believes would take such transactions outside […]
India Capital Growth has been thinking about its future and has decided to call an EGM where it will propose 1) that shareholders are issued with subscription shares and 2) that the dates of the company’s forthcoming continuation votes are changed. The subscription shares would, if issued, be exercisable at asset value two years after being […]
Tau Capital has cut the value of Stopharm again and will now vale this investment at $8m. Tau Capital say the devaluation of the Tenge in February made Stopharm’s imports of pharmaceuticals (most of which are priced in euros or US dollars) more expensive without automatically allowing it to raise prices in Tenge as sales prices […]
Spark Ventures has drawn investors’ attention to the announcement from IMIMobile, Spark’s largest investment, that it intends to float on the AIM market. Spark Ventures say they will hang onto some of their investment in the company. At the moment they own 27% of IMIMobile and value it at £14.8m.
ARC Capital Holdings has published its final results for the year that ended on 31 December 2013. While these numbers are very out of date now, they do say that the NAV fell from $0.92 to $0.83 over the year. It made two sales in the year – of Goodbaby and Shaanxi Dade Eucation Development […]
Assura Group has announced that it is buying 28 medical centres at a total cost of £107m – paid as £10m in cash, the assumption of £77.7m of debt and by the issuance of 44.3m new shares in Assura to the vendors, a company controlled by Ray Seymour and Alistair Blacklaws, founders of MP Realty Holdings. The […]
GLI Finance has announced that, following a successful placing and offer for subscription by Fair Oaks Income Fund, GLI has exchanged its holdings in its two remaining CLO investments for $20.4m in cash and 34,298,425 shares in Fair Oaks Income Fund (issued at $1). The total value of the CLO investments at 3 June (the […]
Real Estate Credit Investments has published its results for the year that ended 31 March 2014. Over the year its net asset value rose from £1.50 to £1.54. The £50m it raised in November 2013 was successfully deployed into or committed to a number of loans. The dividend for the year is 2.7p – matching […]
TwentyFour Income Fund released its results on 10 June. These cover the period from 11 January 2013 to 31 March 2014. The company was admitted to trading on 6 March 2013 raising £150m – expanded through subsequent issuance to £267m. The net asset value at the end of the period was 117.66p and the share […]
Results for European Residual Income Investments have been released alongside those of Real Estate Credit Investments. Over the year to the end of March 2014, ERII received a cash inflow of €3.1m. At the end of the period ERII had sufficient assets for the Directors to recommend a further dividend and they have declared a […]
Tritax Big Box REIT is buying the Next Group distribution warehouse in West Moor Park, Doncaster for £60m – this equates to a net initial yield of 6.07%. Barclays Bank is providing a £16.4m facility , secured against the warehouse (a loan to value of 27%). Tritax Big Box REIT’s finance, post this loan, will […]
New River Retail has bought four retail parks for £17.3m. The purchase price is equivalent to an initial yield of 9.1%. Overall the portfolio adds up to 196,300 sq ft of lettable space which is fully let to six tenants with an average unexpired lease length over 7 years. New River Retail says it has bought […]
Monks Investment Trust has published its results for the year that ended 30 April 2014. Over the year the fund delivered a total return on net assets of 5.2% which compares to a return on the fund’s benchmark index, the FTSE World Index, of 6.8%. The return to shareholders 5.4%. Dividends for the year were unchanged […]
Unitech Corporate Parks has received a cash offer for Candor Investments – the holding company for its property interests – that values the subsidiary at £205.9m – freeing up enough cash to make a return to shareholders equivalent to 56p per share. Shareholders will have to approve the transaction but the Board is pointing out […]
The Establishment Investment Trust has published its results for the year that ended 31 March 2014. Over that period its net asset value fell by 20.4% and its share price fell by 17.4%. By comparison, the MSCI All World Index rose by 6.2% and the MSCI AC Asia ex Japan Index fell by 6.4% over […]
Masawara has published its final results for the year that ended 31 December 2013. Shareholders’ equity fell by $9.6m to $72.6m. The managers say that the company has been adversely affected by a slowdown n the Zimbabwean economy. TA Holdings, 41% held by Masawara, wrote down the value of their investment in Sable Chemical Industries by $13.7m […]
ARC Capital Holdings has been award RMB90m plus interest and arbitration fees by the China International Economic and Trade Arbitration Commission in respect of ARC Capital’s sale of Jiadeli Supermarkets. The sale concluded in October 2010 but the buyer, HNA Group, and ARC Capital were unable to agree on the amount of a “holdback” related to […]
Kennedy Wilson Europe Real Estate is paying €296m for a portfolio of 21 assets including nine office , two mixed, five car showrooms, three leisure, one retail and one warehouse – they bought the loans secured against this portfolio earlier in the year. The Portfolio currently delivers gross rental income of £25m per annum but 10% of […]
BBGI has bought the M1 Westlink road project in Belfast. Completed in November 2009, the 60km motorway and short dual carriageway section in the heart of Belfast generates revenues based on the availability of the asset rather than the volume of traffic using it. The concession expires in 2036.
Sadly, Acorn Income Fund has announced that John McClure, co-manager of the fund, has died. John was involved with the management of the fund from its inception and although Unicorn Asset Management say Simon Moon and Fraser Mackersie, the other co-managers of the Company’s smaller companies portfolio who have worked with John since 2008 will […]
Worldwide Healthcare has published its results for the year that ended 31 March 2014. Over the period the fund’s net asset value generated a total return of 25.9%. The fund’s rating improved, driving the total return to shareholders for the period up to 30.8%. The MSCI World Healthcare Index delivered a return of 14.9% over […]
Fidelity China Special Situations released its annual results on 6 June. These showed that over the year to the end of March 2014, the fund’s net asset value rose by 19.5% and its share price rose by 14.1%- in marked contrast to the fund’s benchmark, the MSCI China, which fell by 6.9%. The dividend increased from […]
Camper & Nicholson Marina has published its results for the year that ended 31 December 2013. While somewhat out of date now, the figures show that over the year its net asset value per share fell from €0.28 to €0.17. The company intends to raise £2.4m by issuing shares at 10p. The issue is underwritten […]
Alpha Pyrenees Trust has announced that it has sold a 5,180 sqm multi-let warehouse and office investment, in Vitry-sur-Seine near Paris, for €5.7 million – 7.5% more than its book value. At the same time Alpha Pyrenees Trust has announced that it has sold the larger of the two vacant warehouse units located in Zaragoza, Spain for €1.3 million (book […]
Edinburgh Worldwide has released interim results that cover the six months that ended 30 April 2014. Approximately half way through the period Edinburgh Worldwide changed its remit and moved its portfolio from investing predominantly in large cap. stocks to investing in those with a market capitalisation of £5bn or less (only about 20% f the […]
Starwood European Real Estate Finance has lent £27m against an office building in Park Royal in London. The loan will refinance the acquisition of and fund the refurbishment of the 160,000 square foot building. The loan has a three year term and will earn “a solid single digit return”. The company has now invested 89% of […]
Hansteen Holdings has today announced that it has sold a portfolio of ten multi-let industrial estates and an office park. The portfolio is held through Ashtenne Industrial holdings, a vehicle that Hansteen has a 36.7% interest in and is investment manager of. The 900,000 square foot portfolio fetched £62m (a price equivalent to an initial yield […]
