This sector includes mortgage companies, property management companies and REITs
Central and Eastern Europe-focused Globalworth Real Estate seeks capital raise to fund pipeline – Globalworth Real Estate (GWI), a leading office investor in Central and Eastern Europe, has announced its intention to raise additional equity capital through a placing of up to approximately 28.5m new shares to existing and new investors to take advantage of what it […]
Grit Real Estate Income Group, a pan-African real estate company, reported impressive full-year results today including a 57.3% growth in profit from operations. The company, which now has owns 25 properties across seven countries and five asset classes, reported a 27.4% jump in earnings per share to US$8.09 and a total return of 12.4%. Its portfolio […]
Hammerson has agreed a deal to sell a retail park in Scotland for £67m as it continues its disposal programme to reduce debt. The sale of Abbotsinch Retail Park, in Paisley, means it has now exceeded its minimum disposal target of £500m in the year. Following the sale of a major stake in its Italie Deux shopping centre […]
Tritax EuroBox increases bank facility by EUR125m – The continental European logistics real estate assets investor, Tritax EuroBox (EBOX), has announced a EUR125m increase to an existing EUR300m unsecured revolving credit facility This increase is on the same terms as the existing facility, with an opening margin of 1.55% and a maturity date of October 2023 […]
Ceiba interim result show Trump impact – Ceiba Investments (CBA) has published interim results to 30 June 2019. NAV per share decreased from US$1.49 as at 31 December 2018 to US$1.39 at 30 June 2019, mainly as a result of the increased discount rate and a downward adjustment of the estimated future cash flows to be generated […]
In QuotedData’s other news 27 September 2019 Pacific Alliance China Land confirmed its planned delisting and liquidation, saying it would complete by the end of the year. Hipgnosis is asking shareholders to approve the issuance of 1bn C shares and has upped the maximum amount it will seek to issue now from 300m to 500m. Infrastructure […]
AEW UK Long Lease targets covered dividend in FY2021 – AEW UK Long Lease REIT has published results covering the year ended 30 June 2019. Generally, things seem to be on track – as the highlight below show – but problems with one tenant (now replaced) led to a dip in the share price. This […]
Warehouse REIT invests in Cheshire – Warehouse REIT has exchanged contracts to acquire the Midpoint Estate, a multi-let estate of 20 high quality, individual warehouse units on 29 acres in a strategic location off the M6 motorway in Middlewich, Cheshire for GBP15.5 million, reflecting a net initial yield of 6.6 per cent. The Midpoint Estate […]
In QuotedData’s other news 26 September 2019: 3i Infrastructure has completed the purchase of cold storage company, Ionisos, that was announced in July Custodian REIT has extended a borrowing facility that was coming to the end of its life by three years and expanded it too. Lloyds Bank agreed to increase the total funds available under […]
In QuotedData’s other news 25 September 2019: Primary Healthcare Properties raised the £100m it was looking for in just a few hours – issuing 78.125m shares at 128p. All the directors put in more money. Augmentum converted its convertible investments in Tide into shares. The value of this position has risen by £4.2m as a result, […]
Shaftesbury upbeat despite wider retail woes – in a trading statement covering the period from 1 April to 24 September, Shaftesbury, the owner of 15.2 acres of property in London’s West End, said: West End remains busy and our food, beverage, leisure and retail occupiers continue, on average, to report year-on-year sales growth. Continued good […]
PRS REIT reports accelerating home completions – PRS REIT has published results covering the year ended 30 June 2019. Highlights are: 768 new rental homes added to the portfolio, taking the cumulative total to 1,173 at 30 June 2019 Annualised estimated rental income GBP10.7m (30 June 2018: GBP3.6m) a further 3,196 homes under construction across […]
Aberdeen Standard European Logistics sees strong demand – in its interim results statement published this morning, Aberdeen Standard European Logistic’s manager, Evert Castelein, says “The key drivers behind the demand for logistics space in Europe, such as e-commerce, remain strong. We have been able to build a high quality, well-diversified property portfolio with eleven investments […]
Tritax EuroBox has acquired two prime logistics facilities in Bremen, Germany for €60.3m, reflecting a net initial yield of 4.8%. The company said the assets are “highly reversionary” against current market rents in the area. Purpose-built in 2013 and 2019 respectively, the two facilities have a combined gross internal area of 57,537 sq m, eaves […]
Town Centre sees assets and profits drop – Town Centre Securities reports that, for the year ended 30 June 2019, its EPRA NAV fell by 7.8% to 354p on the back of a 3.8% fall in the value of its portfolio. Despite a 2.6% increase in like-for-like rents, EPRA profit before tax fell by 7.9% […]
In QuotedData’s other news 24 September 2019 Starwood European Loan Finance has lent a developer £56.8m for two years. The money will be used to complete a residential development in London. Also the final €15m lent to a European industrial portfolio has been repaid. This leaves SWEF with net cash of £5.5m against unfunded commitments of […]
Target Healthcare hit by loss of tenant – Target Healthcare REIT has received notice from one of its tenants, Orchard Care Homes, which operates six homes in the Target portfolio, of its intention to exit these six leasehold homes as part of a wider business restructuring. Target says that it is continually preparing for such contingencies […]
In QuotedData’s other news 23 September 2019 Urban Logistics REIT has bought six parcel distribution depots from Connect Group for £9.9m, a 7.0% net initial yield. Plus two DHL warehouse facilities in Sittingbourne and Thatcham bought for £5.3m and a 5.9% yield. Hipgnosis Songs Fund has applied to be listed on the Premium Segment of the […]
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 […]
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