This sector includes mortgage companies, property management companies and REITs
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 […]
Regional REIT has announced a number of lettings across its portfolio, in aggregate 10.9% ahead of expected rental value (ERV). The deals comprise: Juniper Park, Basildon: lease renewal to Vanguard Logistics Services for five years with Vanguard having the option to extend beyond this. Headline rent of £370,000 a year, representing an uplift of 15.4% to […]
In QuotedData’s other news 9 October 2019 AEW UK REIT has a loan from The Royal Bank of Scotland. It has just negotiated changes to the covenants on this loan that permit the company’s borrowings to rise to 55% (loan to NAV), from 45% previously. The announcement stresses that the company has no plans to increase […]
In QuotedData’s other news 8 October 2019 – Yesterday evening, Ruffer announced that effective 31 October 2019, Steve Russell is stepping down as one of the fund managers. Hamish Baillie and Duncan MacInnes will continue to manage the portfolio. Steve has been with the company since 2004 and will remain part of the the wider investment process […]
Schroder Real Estate refinances debt and increases dividend – Schroder Real Estate (SREI) has this morning announced a refinancing of its debt and an increase in the dividend paid out to shareholders. Highlights from the announcement include: £129.6m fixed rate loan with Canada Life Investments extended from 8.5 to average 16.5 years; Reduction in the total […]
Student accommodation specialist Unite Group has sold two properties in Coventry to a Singaporean investor for £96m. The two assets, Callice Court and Millennium View, comprise a total of 1,127 beds and have been sold to Mapletree Investments. The transaction price is in line with book value and Unite said it would recycle the capital […]
John Lewis is seeking to withhold 20% of the service charge it pays shopping centre landlords, in a move that will put more pressure on several listed property companies. The BBC has reported that the department store chain has told landlords in some locations that it will withhold 20% of the service charge it is […]
In QuotedData’s other news 4 October 2019 – The Renewables Infrastructure Group raised £227.6m from an issue of shares that was “heavily oversubscribed”. It will issue 185m new shares. The money will be used to pay off its short-term debt and to finance new acquisitions. JPMorgan Indian failed to beat its benchmark (MSCI India) over the […]
Workspace books chunky profit on Farringdon sale – Workspace Group says that it has exchanged contracts for the disposal of 12-13 and 14 Greville Street in Farringdon for a total of GBP14.75m. The sale of the property is at a premium of 47.5% (GBP4.75m) to the 31 March 2019 valuation, a net initial yield of 1.3% […]
CLS Holdings has exchanged contracts to buy two London offices for £66.65m. The offices – 6 Lloyds Avenue, in the City of London, and the Clockwork Building, in Hammersmith – have a blended annual passing rent of £4.2m and a net initial yield of 6.2%. 6 Lloyds Avenue comprises 34,640 sq ft of multi-let office […]
In QuotedData’s other news 3 October 2019 3i Infrastructure will issue up to 81m new shares through a placing. The price will be determined through a book build – where investors say what price they are prepared to pay and the deal is done at the highest price that allows the fund to issue all the […]
In QuotedData’s other news 2 October 2019: Hadrian’s Wall Secured Lending (HWSL) has provided an update with respect to Biomass Premium Fuels Limited and Biomass Optimum Fuels Limited which separately acquired the assets of Arensis Energy Ltd, Entrade Energy Ltd and Arensis Energy One Ltd out of administration on 21 December 2018. BOFL has entered […]
On 12 September 2019, Supermarket Income REIT (SUPR) announced its intention to raise £50m to grow its portfolio (Click here to read our story). However, following approval by shareholders yesterday of the necessary resolutions that were required to allow the fundraise to proceed, the board has announced today that it is doubling the size of […]
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