This sector includes mortgage companies, property management companies and REITs
In QuotedData’s morning briefing 30 November 2023: Following the passing of a resolution at its AGM yesterday, Reconstruction Capital II (RC2) will have its last day of dealings on AIM on 18 December 2023. CT UK Capital and Income (CTUK) published results for the 12 months ended 30 September 2023 that show it just failing […]
Tritax EuroBox has agreed a second lease at its two-unit asset in Settimo Torinese, a prime logistics location near Turin, Italy. The new six-year lease has been secured with the same leading Italian logistics provider which signed a lease for the other unit in August 2023. The letting for the second unit (14,197 sqm) at […]
Tritax Big Box REIT has announced that it has sold six assets so far in 2023 for a total of £327m. These disposals were conducted at or above most recent valuations, the company said, and delivered a blended net initial yield of 4.34%. The announcement provided top line detail on the assets, but it appears […]
abrdn European Logistics Income (ASLI) has launched a strategic review into the future of the company that could result in its sale or merger with another company. The company, which invests in mid-box and urban logistics real estate in Continental Europe, said that it is “facing a number of challenges, at both a macro and […]
In QuotedData’s morning briefing 23 November 2023: abrdn New India Investment Trust (ANII) announced its interim report for the six months to September 30 2023. Share price total return for the period was 13.7% while the NAV was up 13.2% with the discount narrowing slightly to -18.7% at last close. While impressive on an absolute […]
LXI REIT is close to selling a portfolio of Travelodge hotels for £210m. The deal is under offer, with contracts in solicitors’ hands, on the sale of the 66 Travelodge hotels. The sale price of £210m is in line with current book value (as at 30 September 2023), the company said. If completed, the majority […]
In QuotedData’s morning briefing 22 November 2023: HICL Infrastructure (HICL) announced its interim results for the six months ended September 30 2023. NAV total return fell 3% over the period reflecting the increase of the portfolio’s weighted average discount rate from 7.2% to 8.0%. Transaction activity remained robust, totalling £532m, while the company also reduced […]
Schroder REIT has proposed amendments to its investment objective and policy, and to its investment management agreement, to include sustainability at the centre of its investment proposition. The sustainability improvement and decarbonisation strategy will focus on adapting existing buildings in its portfolio into those that are both modern and fit for purpose, that it says […]
Sirius Real Estate raised £146.6m in a placing. The company said the net proceeds enable it to execute on a significant near term pipeline of attractive acquisition opportunities. The capital raise comprises the issue of 170,417,384 new ordinary shares, which represent around 14.5% of the share capital of the company prior to the raise. The […]
UK Commercial Property REIT (UKCM) has terminated discussions with Picton Property over a possible merger of the companies. It was announced on 8 November that discussions between the two parties over an all-share merger on a NAV by NAV basis had commenced after Picton approached UKCM. Today, UKCM said that its largest shareholder – Phoenix […]
In QuotedData’s morning briefing 21 November 2023: Gresham House Energy Storage (GRID) says that its 50MW West Didsbury project has been successfully energised, taking the portfolio’s operational capacity to 690MW. It is expected to be revenue generating in December. Installing two-hour batteries at West Didsbury in early 2024 will take the capacity of the site […]
Sirius Real Estate (SRE) is looking to raise £145m in a placing. This will enable the company to acquire a near-term pipeline of opportunities, following the recent acquisition of assets in Liverpool, Barnsley and three in North London, for a total of £45m. The capital raise will comprise an institutional placing that will be made available […]
In QuotedData’s morning briefing 20 November 2023: Seraphim Space Investment Trust (SSIT) has released its Q1 update. Highlights include a further £4.1m, invested in two projects over the quarter. Portfolio value increased to £199.9m up £12.4m, due to a combination of additional investments, unrealised fair value net gains and an unrealised FX gain. The main […]
The real estate sector got a boost from the lower-than-expected UK inflation figure that was released on Wednesday, which followed a similarly positive update on inflation in the US. The share prices of the London listed property stocks that we track (67 companies in total) were up 2.6% this week on average. November has been […]
The Association of Investment Companies has issued a press release this morning in which it welcomes Baroness Ros Altmann’s intervention in the debate about the disclosure of investment company costs with the aim of removing investment companies from the scope of the Alternative Investment Fund Managers Directive (AIFMD). This is great news, we think. In […]
In QuotedData’s morning briefing 16 November 2023: Bluefield Solar (BSIF) reports that its NAV fell by 3.3p over the third quarter of 2023. The main contributing factors to this were slight underperformance in generation during the quarter, due to lower than expected irradiation, and advanced quarterly payments connected to corporation tax and the Electricity Generator […]
QuotedData’s morning briefing 15 November 2023: GCP Infrastructure Investments (GCP) has released a quarterly update to 30 September 2023. NAV total return over the period was 1.4% while shares fell 11.6%, widening the fund’s discount which now sits at 36%. During the quarter, the company completed a refinancing of two existing loan notes secured against […]
In QuotedData’s morning briefing November 14 2023: VietNam Holding Limited (VNH) provided a monthly update with NAV total return down 11.7% due to rising foreign exchange headwinds and geopolitical pressures. Despite the size of the move, this was still ahead of the benchmark VNAS fall of 12.5%. The company also announced it had won the […]
In QuotedData’s morning briefing 9 November 2023: Murray Income says it will pay three interim dividends of 9.5p in December, March 2024 and June 2024. Up from 8.25p for the previous financial year. The directors are trying to rebalance the trust’s quarterly dividends in order to accelerate payments to shareholders. As a result, the board […]
UK Commercial Property REIT (UKCM) has announced that it is in discussions with Picton Property Income (PCTN) in relation to a possible all-share merger. PCTN’s board has made the proposal to UKCM, with the merger discussions centring on an EPRA net tangible asset (NTA) for EPRA NTA basis. PCTN said the possible combined company would […]
Sirius Real Estate has continued its asset recycling programme with the sale of an industrial park in Maintal, in Germany’s southwest Hesse region, for €40.1m and acquisition of a portfolio of three business parks in North London for £33.5m. The disposal price in Germany was at a net initial yield of 5.7% and was achieved at […]
In QuotedData’s morning briefing 06 November 2023: Riverstone Credit Opportunities (RCOI) has announced that it has entered into an agreement with Breakwall Capital to provide sub-management services for all credit vehicles managed by Riverstone, including RCOI. Breakwall is a newly formed independent asset management firm expected to be regulated by the SEC, the US financial […]
LondonMetric Property as sold four offices and two long income assets in separate transactions, for a total of £24.5m. Four non-core assets have been sold from the recently acquired CT Property Trust (CTPT) portfolio for £15.3m, comprising three regional offices and a car showroom in Newbury. The buildings have a WAULT of six years and […]
Grit Real Estate Income Group’s annual results were impacted by the high interest rate environment and the transitional period for the company, which saw it acquire developer Gateway Real Estate Africa (GREA). The group’s EPRA net reinstatement value (NRV) fell 8.3% US$72.8 cents per share over the year to 30 June 2023, driven by a […]
In QuotedData’s morning briefing 31 October 2023: Oakley Capital (OCI), a leading pan-European, mid-market private equity investor, is pleased to announce that Oakley Capital Origin Fund I has agreed to acquire a majority stake in Alerce, a leading Spanish provider of transport and logistics software solutions. Origin will invest alongside Alerce’s founding family, including CEO […]
abrdn Property Income Trust (API) has secured over £1.3m in annual rent through new lettings and lease renewals. In the office sector (which accounts for 18% of its portfolio by value), the company has completed a number of deals comprising: a new lease on the fourth floor at One Station Square in Bracknell, securing a […]
In QuotedData’s morning briefing 26 October 2023: Hipgnosis (SONG) says that Andrew Wilkinson and Paul Burger have resigned as non-executive directors of the company ahead of today’s AGM. [Expect more news later.] Oakley Capital Investments (OCI) reports that the Oakley Capital Origin Fund I has agreed to acquire a stake in Webcentral DEH, a leading […]
In QuotedData’s morning briefing 24 October 2023: Following its recent strategic review, the board of Hipgnosis Songs Fund Limited (SONG) announced that it did not receive a superior offer as part of the Go-Shop process in connection with the first disposal. The company was in contact with 17 parties at the beginning of the Go-Shop, […]
In QuotedData’s morning briefing 20 October 2023: Taylor Maritime Investments (TMI) has released its second annual Environmental, Social and Governance (ESG) Report covering the financial year ended 31 March 2023. The report highlights progress made on TMI’s sustainability priorities including decarbonisation, social and community impact, and responsible business practices. This year, TMI obtained independent assurance […]
In QuotedData’s morning briefing 19 October 2023: Highbridge Tactical Credit (HTCF) will compulsorily redeem almost all of its shares on 1 November 2023 and then go into liquidation. Round Hill Music (RHM) shareholders overwhelmingly approved the takeover by Concord Bidco. The shares will stop trading before the market opens on 31 October and shareholders should […]
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