This sector includes mortgage companies, property management companies and REITs
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 […]
In QuotedData’s other news 27 August 2019 – Adamas Finance Asia has put its interest in Hong Kong Mining Holdings into a new special purpose vehicle, domiciled in the British Virgin Islands, and named this Future Metal Holdings – you can access its website here. The SPV owns Dynamite Win Limited which owns 84.8% of Linfen Zhuangpeng […]
Supermarket Income REIT adds Preston Sainsbury’s – Supermarket Income REIT has announced the acquisition of the Sainsbury’s supermarket in Preston, Lancashire from Legal & General for GBP54.4 million (excluding acquisition costs), reflecting a net initial yield of 5.1%. Originally developed in 1992, and extensively refurbished in 2010, Sainsbury’s has a long history of trading from this […]
Target Healthcare adds to portfolio – Care home investor Target Healthcare has acquired two new properties for £18.6m. It has bought assets in Ripon, Yorkshire and Stourport, West Midlands, with both meeting the group’s strict investment criteria of being modern, well equipped care homes with 100% en-suite wetrooms, underpinned by supportive fundamentals. The Moors Care Centre, in […]
In QuotedData’s other news 23 August 2019: Africa Opportunity shrinks board – Chris Agar, Dr. Vikram Mansharamani, and Mr. Peter Mombaur resign as directors with effect from 22 August 2019 so that the trust can save money. We have a raft of half-year reports: BMO Private Equity made 2.4% in NAV terms and 13.7% in share […]
Irish Residential Property REIT receives 428-unit Dublin approval – Irish Residential Properties REIT has been granted planning permission for its 428 unit residential development at Rockbrook in Sandyford, Dublin 18, through the strategic housing development planning process. The permission provides for a scheme consisting of 428 apartments in two blocks (32 studio apartments, 122 one-bedroom […]
In QuotedData’s other news 21 August 2019 Regional REIT has made a sizeable acquisition – six office assets for £25.9m, comprising offices located in Birmingham, Bristol, Cardiff, Chester, Glasgow and Manchester. The assets total circa 172,442sq. ft. and are expected to provide a net income of approximately £2.36m a year from 27 tenants; equating to a net […]
RDI REIT completes £75m London office portfolio refinancing – RDI REIT (RDI), the income focused UK-REIT, has confirmed that, further to the announcement on 5 June 2019, it has completed the second and final stage of its £75m London serviced office portfolio refinancing. The facility, provided by Aberdeen Standard Investments for a seven-year term, has refinanced […]
Primary Health Properties completes £6.4m developments – Primary Health Properties (PHP), the modern primary healthcare facilities investor, has announced that it has reached practical completion on two developments from separate developers at Glynneath and Langwith at a total cost of £6.4m (£4.6m and £1.8m respectively). The properties are let on 20 year leases to the Abertawe Bro […]
In QuotedData’s other news 19 August 2019 – Acorn Income Fund has reported interim results showing its portfolio lagging the Numis Small Cap Index and the All Share. Acorn’s geared structure made up for some of the shortfall (the NAV return was 9.7% against 10.5% and 13.0% for the indices, respectively) and a narrower discount […]
CLS Holdings posts half-year NAV and profit growth – The company has reported a 5% rise in net asset value for the first half of 2019 as well as a 28.2% jump in profits. CLS, which has a £2.1bn portfolio in the UK, Germany and France, posted a EPRA NAV per share of 325.3p, compared to […]
Green REIT board recommends €1.34bn sale to Henderson Park – Green REIT has reached agreement on the terms of a cash offer by Henderson Park to acquire it. The independent Green REIT board has unanimously recommended the deal, which will see Henderson Park subsidiary HPREF Dublin Office Bidco acquire the company for around €1.34bn. Under the terms […]
Regional REIT provides lettings update – Regional REIT (RGL), the regional real estate investment specialist focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, this morning announced successful lettings amounting to around £1.27m per annum; RGL notes that the lettings provide a major uplift […]
Impact Healthcare REIT completes two Ipswich deals – Impact Healthcare REIT (IHR) offers investors exposure to a diversified portfolio of UK healthcare real estate assets, in particular care homes. The company has this morning announced that it has exchanged contracts to acquire two care homes and added a high-quality new tenant for a net outlay of […]
In QuotedData’s other news 12 August 2019 Unite Group, one of the UK’s leading owners, managers and developers of student accommodation, announces that it has exchanged contracts to acquire a new 620-bed development site in Nottingham.The direct let development, which is subject to planning consent, will open in time for the 2022/23 academic year. Total development costs […]
In QuotedData’s other news 9 August 2019 BMO Global Smaller Companies has announced the issue of £35m of fixed-rate 20-year unsecured private placement notes at a coupon of 2.26%. This refinances the company’s 3.5% Convertible Unsecured Loan Stock (“CULS”) which matured on 31 July 2019. RDL Realisation has announced a special dividend of 255p per share. The special […]
Tritax Big Box on road to serious growth – Tritax Big Box REIT posted an uptick in profits in the first half of the year on the back of strong rental growth. Operating profit before changes in fair value of investment properties increased by 5.7% to £60.7m, while rental income grew 3.5% to £166.8m. The […]
AEW Long Lease rethinks its future – AEW UK Long Lease REIT has rejected several takeover approaches and plans to go it alone. The company received several proposals, but the board concluded none of the proposals reflect the true value of the group. The company said the proposals, in some instances, undervalued certain of the group’s assets or […]
Phoenix Spree discusses Berlin rent controls – Phoenix Spree Deutschland, the UK listed investment company specialising in Berlin residential real estate, has updated on proposed rent controls in the German capital. The proposed new Berlin State rent controls continue to create significant uncertainty which has negatively impacted the company share price, resulting in a valuation discount […]
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