This sector includes mortgage companies, property management companies and REITs
Stenprop has acquired 100 industrial units in five separate transactions for an aggregate price of £16.7m, as it continues its portfolio transformation into fully focused multi-let industrial (MLI). The biggest estate in the portfolio bought by Stenprop is the Hillfoot Industrial Estate in Sheffield. It paid £10.2m for the 81-unit scheme, reflecting a net initial yield of 6%. The total […]
UK Commercial Property REIT reported a net asset value total return of 1.9% for the first six months of the year. The company, which is managed and advised by Aberdeen Standard Investments, saw a increase in EPRA earnings per share of 19% to 1.7p compared with the same period last year. It put the rise down […]
In QuotedData’s other news 19 September 2019 Real Estate Credit Investments is placing new stock at 167p – a discount of 0.6% to the closing share price on 18 September 2019 and a premium of 1.8% to the NAV as at 31 August 2019. plus results from Bluefield Solar and UK Commercial Property REIT, deals by Standard Life […]
Three deals for Standard Life Investments Property Income – Standard Life Investments Property Income Trust has completed three deals. It sold an industrial unit in Milton Keynes for GBP9.3m, (slightly less than the value used in the end June NAV). The property was let to an envelope manufacturing company and the manager says that the sale […]
In QuotedData’s other news 18 September 2019 – Standard Life Investments Property Income Trust (SLI) has announced its interim results for the six months ended 30 June 2019. During the period, SLI’s NAV total return was 2.7% for the period ended 30 June 2019, which was generated by like for like portfolio growth combined with profits […]
WeWork shelves IPO plan – WeWork has postponed its multi-billion IPO after failing to attract enough support from investors. The US co-working giant is now planning to complete its float by the end of this year. The move follows a call last week from its largest investor Softbank to shelve the listing. WeWork had aimed to […]
Safestay (SSTY) has announced that it has agreed to acquire the freehold of its fifteenth hostel, currently operating as ‘Best Western Glasgow City Hotel’, for £3.15 million. The property is freehold and, in the 12 months to 31 January 2019, generated revenues of £0.82 million. Completion of the acquisition is expected to take place on […]
Great Portland Estates (GPE) has announced that it has agreed a 82,000 sq ft flexible office partnership arrangement with Knotel at City Place House, 55 Basinghall Street, EC2. Knotel will operate the space until the building’s redevelopment in December 2021 and, together, GPE and Knotel will share the revenue generated by the businesses in occupation. […]
Warehouse REIT (WHR) has announced that it has purchased an eight asset fully-let portfolio of reversionary warehouse and distribution assets, from Aviva Investors, for £70 million. Producing an annual rent of £5.38 million, the purchase price reflects a net initial yield of just over 7%. An additional deferred payment of up to £5 million is […]
RDI REIT (RDI) has announced that it has exchanged contracts with Volksbank eG Braunschweig Wolfsburg to sell its Bahnhof Center in Altona, Hamburg for €91.0 million. The sale price reflects a net initial yield of 4.6% and a 9.6% premium to the 28 February 2019 market value. The Disposal is expected to complete on 31 December […]
Picton updates on portfolio activity – Picton has completed 20 asset management initiatives since its June net asset value (NAV) update. Progress has been made across all sectors including lettings, lease renewals, regears and rent reviews. These have a combined annual rent of £2.4m and were agreed on average 4% ahead of the June 2019 […]
BMO Commercial Property Trust reports interims in tough climate – BMO Commercial Property Trust (BCPT), formerly F&C Commercial Property Trust, has reported interim results to 30 June 2019. The company invests in a number of sectors, including industrial warehouses, office buildings, retail and student housing. The company also has the mandate to invest upto 15% of […]
Primary Health Properties announces €70m secured note issue – Primary Health Properties (PHP), a leading investor in modern primary healthcare facilities in the UK and Ireland, has announced that a wholly owned subsidiary has issued new senior secured notes for a total of €70m at a fixed rate of 1.51% with a maturity of 12 years. The […]
Custodian REIT pursues disposals to rejig portfolio – Custodian REIT (CREI), the UK property investment company, has announced the disposal of a property from its portfolio. It has sold a 39,279 sq ft city centre office and retail unit in Edinburgh for £9.1m, in line with the 30 June 2019 valuation, having acquired the property as part of a portfolio in January 2016. CREI says that following the disposal, net gearing has decreased to 21.1%. Commenting on the disposal Richard Shepherd-Cross, managing director […]
In QuotedData’s other news 13 September 2019 – Crystal Amber’s results for the year ended 30 June 2019 show its NAV rising by 1.8% and an NAV total return of 4.1% (including income). The main positive was Leaf Clean Energy (after it won its court case), the detractors were holdings in Northgate and De La Rue. […]
Supermarket Income REIT to raise £50m to grow portfolio – Supermarket Income REIT has announced its intention to raise £50m through a share placing and offer to fund new acquisitions. It has set the issue price at 102 pence per new ordinary share, a discount of 5.1% to the closing price of 107.5 pence per existing ordinary share […]
Phoenix Spree Deutschland agrees new €240m loan facility – Phoenix Spree Deutschland, the UK listed investment company specialising in Berlin residential real estate, has completed a new €240m loan facility. The new facility was agreed with Natixis Pfandbriefbank AGand comprises of two tranches, one being for €190m and the other for €50m. The refinancing follows a […]
Workspace Group makes double London sale – Workspace Group has sold two London offices for a combined total of £34.75m. It has exchanged contracts to sell Vestry Street Studios, in Shoreditch, and Alexandra House, in Wood Green, at a 20% premium to the 31 March 2019 valuations. Vestry Street Studios, near Old Street, is a […]
NewRiver and Pimco JV buys retail park for £44.7m – NewRiver REIT has acquired a retail park in Poole, Dorset, for its new joint venture with Pimco. The JV, with Pimco’s BRAVO Strategies III fund, has exchanged contracts to buy the Poole Retail Park from LS Poole Retail for £44.7m, reflecting a net initial yield […]
Civitas Social Housing (CSH) has announced that it supports the appointment of three additional Board members to the Westmoreland Supported Housing Board (as announced on 11 September 2019 by the Regulator of Social Housing). Civitas says that it “remains supportive of the Westmoreland Board’s ongoing actions to improve governance and is confident that the three new […]
Growthpoint in for Capital & Regional – UK shopping centre owner Capital & Regional is in discussions to sell a majority stake in the company to Growthpoint Properties. The sale to Growthpoint, the largest South African REIT, would be through a combination of a partial offer in cash for Capital & Regional shares and an injection of capital […]
In QuotedData’s other news 11 September 2019: Grit Real Estate, the pan-African real estate trust, is planning a fundraise – up to 280m shares at a price no less than NAV. Neil Rogan, ex-head of Global Equities at Gartmore with sole responsibility for Gartmore Global Focus Fund and the former lead manager of Fleming Far Eastern […]
Schroder Real Estate updates on portfolio – Schroder Real Estate Investment Trust has revealed some progress on properties in its portfolio. In the Manchester, City Tower (which Schroder Real Estate owns a quarter of) – An agreement has been exchanged for St Pirans School (GB) Ltd, trading as the London School of Commerce, to lease 8,215 […]
Tritax EuroBox (EBOX) has announced that it has completed re-gearing the lease at its property in Bornem, with Alcon-Couvreur NV, which it describes as one of the world’s leading eye care companies. The Bornem property is in a prime logistics location near Antwerp in Belgium. It is a well specified facility that was acquired by EBOX as part of […]
Secure Income REIT posts impressive half-year results – that included a 3.4% uplift in net asset value (NAV) per share and a total shareholder return of 8.2%. The company, which invests in long-term index-linked income producing property, reported adjusted earnings per share of 8.1p for the six months to 30 June 2019, a 30.6% jump […]
GCP Student Living reports strong performance – over the year to the end of June 2019, GCP Student Living’s EPRA NAV rose from 149.12p to 165.52p and it paid dividends of 6.15p, up from 5.695p for the prior year. The portfolio continues to grow. This year GCP Student Living announced: Completion of the refurbishment of […]
Supermarket Income REIT bucks high street gloom – in its results for the 13 months ended 30 June 2019, Supermarket Income REIT reports: 8.0% total shareholder return for the year vs UK REIT sector return of minus 6%; Four quarterly dividends totaling 5.6 pence per ordinary share (2018: 5.5 pence); Quarterly dividends up 3.2% since […]
In QuotedData’s other news 3 September 2019 Impact Healthcare REIT’s NAV edged up over the first half of 2019 – from 103.18p to 104.67p. The interim dividend is 3.09p (up 3%) and this is well-covered by first half earnings of 3.62p per share. It has committed 85% of the money it raised in May. GCP Student […]
LXi REIT (LXI) has announced a number of acquisitions for a combined total investment of approximately £55 million. All are long-let and index linked, and the purchase price reflects a weighted average net initial acquisition yield of 5.70%. The company says that this compares favourably to its latest portfolio valuation yield of 5.13% as at […]
In QuotedData’s other news 28 August 2019 – Hipgnosis Songs Fund settled for £51.1m of new money – issuing 48.4m shares at 105.5p. NB Distressed Debt Investment Fund has compulsorily redeemed on a pro rata basis 5,418,379 NBDX shares at a price of $0.9213 per NBDX share and 2,833,485 NBDG shares at a price of GBP0.8800 […]
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