This sector includes mortgage companies, property management companies and REITs
In QuotedData’s other news 18 December 2019 Sun Life Financial has bought a majority stake in Infrared Capital Partners, the investment adviser to HICL Infrastructure and The Renewables Infrastructure Group. This won’t have any impact on the day-to-day running of the funds. Infrastructure India has maxed out its $105m borrowing facility, borrowing another $30m to develop […]
Sirius Real Estate, which operates business parks across Germany, has completed the acquisition of Alzenau Business Park, 34km east of Frankfurt am Main, for €44.5m. The business park comprises eleven buildings constructed between 1985 and 2002 providing a total of around 60,000 sqm of lettable space and was bought ar a net initial yield of […]
In QuotedData’s other news 17 December 2019 Tritax Big Box REIT has reached an agreement to extend the termination date in respect of GBP300 million of its GBP350 million unsecured revolving credit facility, from 10 December 2023 to 10 December 2024. The maturity date of the residual GBP50 million will remain 10 December 2023. This extends the company’s […]
Aberdeen Standard European Logistics Income (ASLI) has signed an agreement to acquire a logistics warehouse in the Netherlands for €49.9m. The group has bought a 43,000 sq m facility in Den Hoorn at a net initial yield of 4.5%. The transaction is expected to close in January 2020. The newly built facility, which is located within the Randstad […]
Custodian REIT saw total return fall to 0.5% for the six months to 30 September 2019 as turmoil in the retail market dragged on its results. Net asset value (NAV) per share total return of 0.5% for the period, was down from 4.3% at the same point last year. Share price total return was 8.7% […]
In QuotedData’s other news 12 December 2019 Polar Capital Technology crept closer to the £2bn mark as its NAV grew by 2% over the six months ended 31 October 2019. The benchmark index was a little stronger over this period (up 4%) as very large tech companies (where PCT is underweight) drove the index higher. Gore […]
QuotedData attends Tritax EuroBox’s annual results – QuotedData attended Tritax EuroBox’s (EBOX/BOXE) inaugural annual results presentation earlier today. Here are a selection of highlights followed by some takeaways from manager Nick Preston’s presentation. Since launching in mid-2018, with a £300m initial public offering (IPO), EBOX has built a ten-asset warehouse and logistics portfolio that was most recently valued at […]
SEGRO has exchanged contracts to sell a portfolio of UK big box warehouses for £241m, in line with book value. The company said it would recycle the capital into its existing and future development programme. The portfolio, which comprises seven assets, has generated a blended ungeared IRR of approximately 11% since SEGRO acquired them. Morgan Stanley Real […]
In QuotedData’s other news 10 December 2019 Greencoat Renewables raised €125m in an oversubscribed placing of new shares. 110,619,469 shares to be issued at €1.13. The money will be used to pay down debt and buy additional assets. We also have stories on a German offshore wind acquisition by The Renewables Infrastructure Group, SEGRO selling a […]
Capital & Counties has converted to a UK REIT following the sale of its interests in Earls Court. Under the REIT regime, the group will no longer pay UK direct tax on profits and gains from qualifying rental business. Following the sale of Earls Court for £425m, the company has positioned itself as a prime […]
Schroder European Real Estate underlying properties deliver 7.7% total return – Schroder European Real Estate (SERE) delivered the following operational highlights over its financial year to 30 September 2019: Agreed a conditional new long-term lease and capex programme at the Group’s largest asset, Boulogne-Billancourt office in Paris, providing future potential capital value and income upside; Portfolio […]
Ediston Property Investment Company, the real estate investment trust, has reported a fall in net asset value (NAV) of 5.7% in full year results. The drop was largely due to a 3.5% fall in the value of its property portfolio, which now stands at £319.2m, and its exposure to the retail sector. All of its […]
In QuotedData’s other news 6 December 2019 Sanditon’s liquidation vote passed yesterday Baring Emerging Europe beat its benchmark for the year ended 30 September 2019, returning 17.8% against 15.9% for the index. The dividend was increased by a penny to 35p. Returns were driven by a strong stockmarket in Russia. Duke Royalty has awarded three […]
Primary Health Properties (PHP), one of the UK’s leading investors in healthcare facilities, will provide development funding for the construction of a purpose built medical centre in Eastbourne, East Sussex for a total cost of £8.4m. The facility, which will be wholly owned by PHP upon its completion, will be used by two merged GP practices […]
In QuotedData’s other news 4 December 2019 Augmentum Fintech’s NAV made progress over the six months ending 30 September 2019, rising by 2.4%. This would have been higher but their holding in Zopa took a hit as it raised money to fund an application for a full banking licence. We also have news of higher […]
Civitas Social Housing reports half-year results as portfolio grows to nearly 600 properties – Civitas Social Housing, the supported living and social housing REIT, has released half-year results to 30 September 2019. CSH’s chairman, Michael Wrobel, commented: “The company is pleased to report a strong set of results with our key performance objectives met. We continue to […]
In QuotedData’s other news 29 November 2019 PME Africa has increased its loan from Optas Gmbh from €400,000 to €600,000 while it tries to free up cash at its account in Tanzania. EIH says it has consulted its shareholders and a vast majority are in favour of de-listing its shares in the interests of saving money. […]
Urban & Civic saw its EPRA net asset value (NAV) jump 9.6% in full year results after successfully progressing residential sites through the planning system. EPRA NAV rose from £481.2m a year ago to £527.5m with the revaluation of its Waterbeach site, where the company gained outline consent for 6,500 homes earlier this year, contributing £24.6m […]
St Modwen has sold a chunk of its non-core retail portfolio for a total of £34m, as it continues to shift its focus to the industrial sector. The sales, in Doncaster, Crosby and Kirkby, were sold at a discount of 9% compared to the May 2019 book value of the three assets. The disposals follow […]
In QuotedData’s other news 28 November 2019 Tritax EuroBox is to spend €30m extending its Barcelona warehouse by 88,000 sqm. Building starts in 2021 for completion in 2023. The warehouse is let entirely to Mango (the fashion retailer) and was already by far the largest asset in EBOX’s portfolio. This is a big bet on one […]
LondonMetric has reported a 16.6% uplift in net rental income to £54.9m in half year results following the acquisition of A&J Mucklow in the period. The company, which saw net asset value (NAV) remain flat at 174.9p per share, said the acquisition has significantly increased its portfolio weighting to the urban logistics sub-sector that has […]
Intu Properties continues disposals programme – Intu Properties (INTU) has sold Sprucefield Retail Park to NewRiver REIT for £40m, in line with its June 2019 valuation. Sprucefield Retail Park is located in Lisburn, Northern Ireland and comprises of 231,000 sq ft of retail space in five units, anchored by Sainsburys and B&Q. Intu has a portfolio of […]
Civitas Social Housing appoints Alison Hadden to its board – The board of Civitas Social Housing (CSH) has announced the appointment of Alison Hadden as an independent non-executive director of the company. CSH note that Alison brings a depth of experience within social housing and local government, having started her career at Dudley Metropolitan Borough […]
Residential Secure Income reports annuals, 18% NAV total return since admission – Residential Secure Income (RESI), which invests in affordable shared ownership, retirement and local authority housing, has announced its annual results for the 12 months to 30 September 2019. Financial highlights IFRS NAV total return of 8.0p per share for the period; 3.9%, or £8.7m, uplift […]
In QuotedData’s other news 20 November 2019 Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 […]
Grit Real Estate investing more in Botswana – Grit Real Estate Income is buying an additional 22.75% stake in Botswanan real estate company, Letlole La Rona Limited for US$ 13.8m (to be settled by issuing new ordinary shares in Grit). The vendor is Botswana Development Corporation Limited, a development finance institution founded in 1970, with the […]
Palace Capital, which owns a diverse portfolio of property in the UK regions, has reported a drop in net asset value (NAV) per share of 3.9% during the six months to the end of September. NAV per share fell to 391p during the period, compared to 407p at the end of March, while profit after […]
Hammerson sells Gloucester retail park – Hammerson has exchanged contracts on the sale of St Oswald’s Retail Park, Gloucester, to a local authority for GBP54m. The sale price reflects a net initial yield of 8.5%, and is 8% below the 30 June 2019 book value. The 20,900 square metre scheme, which is located to the north […]
Standard Life Property Income sells Denby logistics unit – Standard Life Investments Property Income Trust has sold its second largest investment, a logistics unit close to Derby, for GBP19.1m. The property was let until 2025 and the rental income represented 4.4% of the company’s income. The sale price was at the September valuation, and reflected a […]
In QuotedData’s other news 19 November 2019 Amedeo Air Four says that Emirates will take two of its A380s out of service for a while to allow it to install new premium economy cabins. This won’t affect Amedeo Air Four’s income but it thinks it might help when it comes to selling the planes at the […]
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