This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 21 September 2020 – Crystal Amber (CRS) reported annual results to 30 June 2020. The UK smaller companies fund’s NAV fell by (55.4%) in total return terms. It was a better second half of the year, with CRS’ NAV increasing by 11.2% over the year-to-date to 30 June 2020. The main […]
In QuotedData’s weekly news show 18 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: Securities Trust of Scotland changing its manager Premier Global Infrastructure changing its investment approach JPMorgan Brazil losing its continuation vote Gabelli […]
Real estate landlords must be thinking ‘when are we going to catch a break?’ Or more to the point ‘when is the government going to give us a break?’ This week, in all his wisdom, communities secretary Robert Jenrick announced an extension to the ban on evicting commercial tenants until the end of the year. […]
U and I Group (U+I), has announced that Yoo Capital Investment Management has acquired a majority ownership interest in Shepherd’s Bush Market for its Yoo Capital Fund II, L.P., forming a joint venture partnership with U+I. About Yoo Capital Investment Management Yoo Capital is a privately held real estate investment firm, with over £2 billion […]
Macau Property Opportunities (MPO) has provided an update on its progress with its loan refinancing and portfolio divestment. To summarise, on the loan side, MPO has entered into a HK$540 million (US$69.7 million) five-year loan facility with Hang Seng Bank, while on the divestment side, MPO has entered into a provisional sale and purchase agreement […]
Grit Real Estate Income (GRIT) has announced that it has entered into a binding agreement with Gateway Real Estate Africa Ltd (GREA) for Grit to dispose of a 39.50% interest in Delta International Bahrain SPC (DIB), the beneficial owner of AnfaPlace Mall (Anfa) for a total of US$25,488,440. Anfa forms part of a mixed-use complex […]
In QuotedData’s morning briefing 18 September 2020: We have details of the GRIT Real Estate Income’s disposal of its stake in Anfaplace Mall, JLEN Environmental Assets acquisition of two hydro assets (one with a co-located battery storage asset), Macau Property Opportunities progress with its loan refinancing and its divestment of its remaining individual unit at One […]
Regional REIT reported a 10.2% fall in net tangible assets (NTA) in the six months to June 2020. The company, which owns a portfolio of office and industrial properties in UK regional markets, saw the valuation of its portfolio fall 4.3% in the period due to Covid-19 uncertainty. It has collected 94.1% of rents in […]
In QuotedData’s morning briefing 17 September 2020 LXI REIT says that “following robust rent collection for the quarter ending September 2020“, it is increasing its quarterly dividend guidance by 4% to 1.35p per share (from 1.30p per share). Supermarket Income REIT is looking for more money. The aim is to issue £150m worth of shares at […]
In QuotedData’s morning briefing 16 September 2020: UK equity income sector company, Law Debenture Corporation (LWDB), said it remained committed to at least maintaining 2019 full-year dividend level of 26p. LWDB is a unique combination of an equity portfolio and independent professional services business. LWDB said today that “we approached 2020 with a professional services business […]
In QuotedData’s morning briefing 15 September 2020: McKay Securities has let the whole of 135 Theale Logistics Park, its 134,430 sq ft speculative warehouse development at Junction 12 of the M4 near Reading, to a logistics operator. The new tenant has agreed to a 10-year FRI lease term at a rent which is 2.0% ahead of […]
Schroder REIT has secured 13 new lettings or renewals across its portfolio. The group, which announced a share buyback programme last week, said the activity increased contracted rental income by £210,000 a year. The activity included: A new lease for a three year term to the Secretary of State for Housing, Communities and Local Government at […]
CLS Holdings has exchanged contracts to acquire a portfolio of commuter belt office properties for £59.71m. The portfolio consists of One Church Road, in Richmond; Priory Place, in Chelmsford; and Kings Court, in Leatherhead. One Church Road is located adjacent to Richmond Station, providing fast access to several commuter hubs including Clapham Junction and London […]
In QuotedData’s morning briefing 14 September 2020:: Martin Currie Global Portfolio (MNP) held up well over its interim results period to 30 June 2020, delivering a total NAV return of 8.4%. The result was well ahead of MNP’s benchmark, at 0.2%. MNP sits in the global sector, with healthcare and technology making up about half of […]
In QuotedData’s weekly news show 11 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 and Richard Williams covered the week’s top stories: Standard Life UK Smaller companies’ results A rush of announcements from Hipgnosis that could change the nature of […]
Alvarium Investments announced its intention to float Home REIT this week. Launching a new REIT during a global pandemic may have caused a few raised eyebrows among investors, but this is one we are particularly excited about. It was quickly apparent from reading the announcement that Home REIT is looking to tap into a sector […]
LondonMetric Property (LMP) has announced that it has sold a portfolio of six distribution warehouses for £57.3m to Canmoor and AIMCo (a Canadian institutional investor) reflecting a blended net initial yield of 5.3%. LMP has built the portfolio over a number of years, which includes last year’s acquisition of A&J Mucklow. LMP says that the disposal will crystallise an £8.8m profit on cost and […]
Secure Income REIT reported a 6% fall in property valuations in half-year results, mainly due to a 20.3% write down in the value of its budget hotel portfolio. The company is the biggest landlord to Travelodge, which secured a controversial CVA earlier this year that wiped millions off its rent bill. Secure Income REIT’s portfolio […]
In QuotedData’s morning briefing 10 September 2020: Capital & Counties has sold a block of property, that it has dubbed “the Wellington block”, for £76.5m. The block comprises 25-31 Wellington Street, 23 Wellington Street, 15 Exeter Street, 12 & 14 Burleigh Street and Burleigh House, currently providing approximately 66,000 square feet of lettable space. The buyer […]
New CEO for British Land – Chris Grigg has informed the board of British Land of his intention to step down as CEO and from the British Land board. Chris will step down as CEO following delivery of the company’s 2021 interim results on 18 November 2020 and leave the board and the company on 31 […]
UK Commercial Property REIT (UKCM) has fully let its 377,070 sq ft XDOCK377 logistics unit at Magna Park in Lutterworth to Armstrong Logistics, a pan-European distribution company. Armstrong Logistics has signed a 15.5-year lease with open market rent reviews at £6.50 per sq ft, in line with estimated rental value (ERV), which will add a […]
AEW UK REIT said it expects to collect 87% of rent by the end of the current quarter. The company, which owns a diversified portfolio of 34 regional UK commercial property assets, set out the following rent collection figures for the quarter commencing 24 June 2020 (as at 7 September): Received – 85% Payment expected prior […]
In QuotedData’s morning briefing 9 September 2020: Trian Investors (TI1), which was set up to invest in a single stock and engage with stakeholders to improve the stock’s value, made its move in July 2019 by acquiring a stake in Ferguson. Ferguson is a leading distributor of plumbing and heating products in North America, as well […]
In QuotedData’s morning briefing 8 September 2020: Standard Life Investments Property Income Trust has completed the purchase of a B&Q Retail Warehouse in Halesowen for £19.5m, financed by its low cost revolving credit facility. The purchase reflects an initial yield of 7.5% and is let to B&Q Ltd for a further 11 years to lease expiry. […]
Alvarium Home REIT Advisors has announced its intention to launch an initial public offering (IPO) in Home REIT, a company focused on the alleviation of homelessness in the UK. Home REIT will target inflation-protected income and capital returns, by investing in a diversified portfolio of assets across the UK which will be dedicated to providing accommodation to the […]
RDI REIT has sold its UK retail parks portfolio for £156.9m. The six assets that make up the portfolio has been sold to M7 Real Estate for a net initial yield of 7.5%. The sale price was a 3% discount to February 2020 book value. The group said the deal, which is expected to complete […]
Urban Logistics REIT (SHED) this week has announced another potential equity raise, having already invested all the proceeds of its £136m placing from March 2020. The news underlines the polarisation we are seeing in the property market, with other sectors such as retail and offices struggling in the face of uncertain futures. As many of […]
Impact Healthcare REIT (IHR) has announced that it has exchanged contracts on an individual property, St Peters House, in Bury St Edmunds, for a net consideration of £7.4 million. St Peters House is to be leased to an existing tenant. The initial rent will be £555,000, reflecting a yield of 7.5%. IHR has also completed […]
In QuotedData’s morning briefing 3 September 2020: Ashoka India provides an annual redemption facility to its shareholders. This year, just 367,616 shares (0.54% of the issued share capital) were requested to be redeemed. Tritax Big Box REIT has completed its sale of an asset in Chesterfield for £57.3m. The buyer was Warehouse REIT (see separate story). […]
Warehouse REIT spends £82m – Warehouse REIT has completed the acquisition of two single-let warehouse assets located in the East Midlands and Cheshire, occupied by Amazon and Wincanton respectively. The assets have been purchased in two separate transactions for a total consideration of £82 million, reflecting a blended net initial yield of 5.4% and provide a […]
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