This sector includes mortgage companies, property management companies and REITs
Assura, the healthcare property investor and developer, saw its net asset value (NAV) increase slightly to 53.5p and its portfolio value rise 3% in the six months to the end of September. However, pre-tax profit fell 2.7% to £36.4m, despite a 9.5% rise in net rental income to £50.6m. The group posted a 7.7% increase […]
Picton Property Income announced steady half-year results today that saw its net asset value (NAV) nudge up 0.9% to 94p per share. The slight increase in NAV was in part down to a 1.2% increase in the value of its property portfolio, driven by its large weighting to the industrial and office sectors. It posted […]
Picton completes Croydon office sale for £18.2m – Picton Property Income (PCTN) has completed the disposal of an office building in Croydon for £18.2m. Citylink, located on Addiscombe Road in Croydon, is a 48,000 sq ft detached office building constructed in 1986 and let to RBS and Fairfield School of Business. The building was sold […]
Civitas Social Housing quarterly update affirms regulator has no issue with model – Civitas Social Housing (CSH) has released a quarterly update, to 30 September 2019. Highlights: Annualised rent roll £46.5m (30 June 2019: £46.0m) IFRS NAV per share 107.23p (30 June 2019: 107.21p) 1.325p quarterly dividend declared EPRA dividend cover 88% (EPRA run rate […]
Big vote against AEW Long Lease chairman – at the Annual General Meeting of AEW Long Lease REIT, held on 5 November, most of the resolutions put to shareholders were approved overwhelmingly [as tends to be the case with most AGMs]. However, resolution number 3, which asked shareholders to approve the re-election of Steve Smith, […]
In QuotedData’s other news 6 November 2019 Symphony International reports a 10% drop in its quarterly NAV – from $1.0915 to $0.9921 – it says falls in the value of Minor International and writedowns in its unlisted portfolio are to blame RM Secured Lending has extended the deadline for its placing to 12 November in the […]
Warehouse REIT expanding apace – The UK specialist warehouse investor, Warehouse REIT (WHR), has announced interim results covering the six-month period to 30 September 2019. Results breakdown (notes around these figures can be found in the official release): Six months to 30 September 2019 30 September 2018 Revenue £13.6m £10.7m Operating profit before gains on […]
In QuotedData’s other news 4 November EPE Special Opportunities has appointed a new administrator (Not gone into administration as we first read the headline!!). Langham Hall Fund Management (Jersey) Limited replaces R&H Fund Services (Jersey) Limited. Globaworth is paying €185m for two Polish offices – Chmielna 89 is a 14-storey office development, situated directly adjacent to […]
In QuotedData’s other news 1 November 2019 RM Secured Direct Lending has renewed and amended its revolving credit facility with OakNorth. Under the terms of the amended facility, the company may draw down loans up to an aggregate value of GBP 10.5 million, on materially similar terms as the previous facility. The new facility will expire […]
Yew Grove buys Athlone office – Yew Grove REIT has reached agreement to purchase an office building at the IDA Ireland Business and Technology Park, Garrycastle, Athlone (situated in Ireland’s Midlands region). The purchase price for the building will be EUR12 million, which represents a net initial yield of 7.2 per cent. after accounting for […]
Empiric Student Property anticipating 10% increase in student revenues – Empiric Student Property (ESP) has provided a trading update: ESP say that student revenue is expected to be approximately 10% up in full year 2019 compared to full year 2018, driven by an increase in the number of beds, increased occupancy and an increase in revenue […]
In QuotedData’s other news 30 October 2019 Schroder European Real Estate has added €0.8m to its rent roll with three lettings at its St Cloud office complex and has drawn down another €4m on its loan to fund capital expenditure within its portfolio. Riverstone Energy reported a $275.8m unrealised loss for the third quarter of 2019. […]
In QuotedData’s other news 28 October – Leaf Clean Energy (LEAF) announced that in accordance with the special resolution passed by the required majority at the extraordinary general meeting held on 1 July 2014, it will be returing approximately £21.5m to shareholders. Leaf has frequently been in the news this year, involving its case with Invenergy […]
Grit Real Estate Income Group, the London listed company that focuses on African real estate, has announced the acquisition of seven properties located across the continent. The company has agreed deals, which are conditional, for a total consideration of US$103.5m. The properties comprise: two corporate offices in Ghana let to PwC and Huawei; two healthcare […]
Net asset value (NAV) at RDI REIT fell 13% in the year to the end of August after after the company wrote off a portfolio of four shopping centres that had breached their debt covenant. The company breached the Aviva covenant earlier this year on a portfolio of four centres – Grand Arcade in Wigan; […]
In QuotedData’s other news 24 October 2019 Gabelli Merger Plus reported a return of 3.7% on NAV but, after discount widening, a return to shareholders of -6.5% for the year ended 30 June 2019. The best index comparisons are probably the S&P Merger Arbitrage Index which returned 8.33%, and the CS Merger Arbitrage Liquid Index, up […]
In QuotedData’s other news 23 October 2019 Triple Point Social Housing REIT has completed the acquisition of 18 supported housing properties, comprising 77 units in total, for an aggregate commitment of approximately GBP11.6 million (excluding costs). The properties are located in the West Midlands (30 units), the East Midlands (20 units), the South West (11 units), […]
In QuotedData’s other news 22 October 2019 The Renewables Infrastructure Group has acquired a 100% interest in Little Raith Wind Farm, a 25MW operational wind farm located in Fife, Scotland. The project consists of nine 2.75MW GE turbines and GE will continue to provide full-scope operations and maintenance services. Little Raith was commissioned in November 2012 and […]
In QuotedData’s other news 21 October 2019: Carador Income Fund will return $7m by way of a compulsory redemption of shares – a holder of 10,000 U.S. Dollar Shares will have 2,280 U.S. Dollar Shares redeemed, and receive US$1,330.60 in cash. SME Credit Realisation Fund will return £16m to shareholders by way of a compulsory redemption […]
In QuotedData’s other news 18 October 2019 Gore Street Energy Storage says its 9.0MW storage project at the Port of Tilbury is now operational. The behind-the-meter energy storage project benefits from a diversity of income sources including Triad revenues, a secured Fast Frequency Response (FFR) contract and a capacity market contract. It is using batteries from […]
Regional REIT buys office portfolio – Regional REIT has exchanged contracts to acquire a portfolio of four office assets for a total consideration of GBP27.7million from a UK institutional vendor, with completion expected by the end of October. The portfolio comprises four multi-let offices located in Redhill, Harefield, Bristol and High Wycombe. The assets total circa […]
South African REIT Growthpoint Properties has agreed a deal to buy a majority stake in UK shopping centre landlord Capital & Regional. The investment comprises a recommended partial offer to be made by Growthpoint at 33 pence in cash per Capital & Regional share to acquire 219,786,924 shares, representing approximately 30.3% and a subscription to acquire 311,451,258 new […]
In QuotedData’s other news 17 October 2019 Gore Street has expanded by £10.7m after raising an additional £9.5m from the NTMA and £1.2m from other investors. Hipgnosis Songs Fund raised £231m from its C share issue – that’s a lot of money but also quite a bit short of the £300m it said it was looking […]
QuotedData recently attended an investor property tour with Schroder Real Estate Investment Trust (SREI) and here we delve into the detail behind some of the group’s biggest assets. The tour took in three of the fund’s assets and the company revealed the strategies it has adopted to date and future asset management initiatives for the schemes. […]
SEGRO, the industrial and logistics developer, has updated on third quarter trading reporting positive letting and development progress. The company signed contracts worth £15.3m of new headline rent during the third quarter, taking the total for the nine months to 30 September 2019 to £48.6m. Rental growth from existing space, net of take-backs, was £2.1m – taking […]
Industrial and logistics investor LondonMetric Property has made the first disposal from the Mucklow portfolio it acquired earlier this year for £415m. It has sold an office in Leicester for £5.9m, reflecting a net initial yield of 6%. The 21,000 sq ft office is let for a further nine years to My Home Move. The sale […]
Urban Logistics REIT portfolio value up 3.8% over interim period – The Property – UK Commercial sector company, Urban Logistics REIT (SHED), has provided a trading update following the end of its interim period to 30 September 2019. In advance of reporting half-year results on 14 November, SHED has said: Portfolio valuation up 3.8% to […]
Globalworth Real Estate raises €264.3m – Globalworth Real Estate Investors (GWI), a leading investor in office space across Central and Eastern Europe, has announced the issue of €264.3m of additional equity capital following the completion of a placing. The placing shares being issued represent around 14.7% of the existing issued ordinary share capital of the company […]
In QuotedData’s other news 10 October 2019 AVI Japan is asking shareholders to approve an issue of up to 14,365,000 shares to Finda Oy, its largest shareholder, as part of a larger placing to be held in November. Tufton Oceanic Assets has agreed to acquire a Containership for $8.75m, taking its fleet to seventeen vessels. The […]
LXi REIT has made a trio of acquisitions for a total of £23m, as it puts its recently announced revolving credit facility (RCF) to work. All three properties are long-let and index-linked and reflect a weighted average net initial yield of 5.7%. The company is also close to agreeing deals for further acquisitions that would see […]
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