This sector includes mortgage companies, property management companies and REITs
Unite Group buying Liberty Living – Student accommodation business, Unite Group, is to buy rival, Liberty Living in a £1.4bn deal ( £0.8bn in cash and £0.6bn in shares). The vendor is Liberty Living Holdings Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board. The Liberty Living portfolio comprises 24,021 beds and was independently […]
In QuotedData’s other news 28 June 2019 Origo Partners results to end December 2018 (ancient history now) show its NAV halving from 3.9 cents to 1.8 cents, down to: – (i) write offs of the company’s investments in Celadon, Gobi Coal, Staur Aqua, Fram, Six Waves, and Unipower; (ii) realised losses from the company’s sale of its […]
Target buys Nottingham care home – Target Healthcare has completed the acquisition of a property in the city of Nottingham for approximately £7.6 million, including transaction costs, through a sale and leaseback. Constructed in 2013, Acorn House comprises 64 bedrooms, each with full en suite wetroom facilities, over three floors. It is close to the centre […]
Standard Life Investments Property Income re-lets Bourne House – At Bourne House in Staines (a 26,300sqft office) the company took a surrender of the lease on the whole from the existing tenant, Ricoh, which had indicated it wanted to downsize, and which had a break in 2021. Simultaneously the property has been re-let on a new […]
Real Estate Credit Investments (RECI) has announced its annual results for the year ended 31 March 2019. The company has reported an increased year end NAV of £1.65 per Share, which it says builds upon the consistency of the previous four years. During the year, RECI provided total dividends of 12.0p per Share and […]
LXi REIT has announced that, following the completion of its £200m equity fundraising that was announced on 13 June, it has completed a number of acquisitions for a combined total investment of approximately £135 million. The company says that this reflects a weighted average net initial acquisition yield of 5.7% (net of acquisition costs). The […]
QuotedData attends Civitas annual results – Civitas Social Housing (CSH) presented its annual results, to 31 March 2019, at an analyst briefing earlier this morning. The company says the portfolio has been independently judged to have produced £114m worth of social value to date, including £59m annual direct savings to the taxpayer. We will discuss […]
AEW UK REIT (AEWU) has announced its annual results for the year ended 31 March 2019, during which it achieved its target income returns of 8p per share. Dividends were fully covered by EPRA EPS of 8.07 pps. Mark says that this reflects the high yielding nature of the portfolio. . The chairman, Mark Burton, […]
Further to Regional REIT’s (RGL’s) announcement on 17 May 2019 that it was considering an equity fundraise “to take advantage of its growing near-term pipeline of opportunities”, the company has announced proposals for a £50m fund raising. The proposed fundraise will comprise a Placing, Open Offer, Offer for Subscription and Intermediaries Offer. In summary, RGL […]
In QuotedData’s other news 21 June 2019 – Adamas Finance Asia will quote its shares in sterling rather than dollars with effect from 24 June. Its board believe that this will make its shares more accessible for UK investors by eliminating their need to consider the prevailing exchange rate between US Dollars and Pounds Sterling when […]
In QuotedData’s other news 20 June 2019 Pershing Square has announced a $100m share buy-back programme – up to 6m shares will be repurchased and the transactions are expected to enhance NAV (in other words they’ll buy back the shares at a discount to NAV). The NAV at 18 June was $24.63 and the share price […]
Aseana says manager will step down 30 June – Aseana Properties says that Ireka Development Management Sdn Bhd (“IDM”), the current Development Manager of Aseana, will cease to act as the company’s development manager on 30 June 2019. This represents an extension to IDM’s three months’ notice period and is to ensure a smooth handover following […]
Impact Healthcare REIT buys York care home – Impact Healthcare REIT has acquired Birchlands Nursing Home for a net consideration of GBP3.9 million. The initial rent will be GBP300,000. Birchlands is a purpose-built nursing home located on the outskirts of York with 51 bedrooms. It currently has 100% occupancy and is rated Good by the CQC […]
In QuotedData’s other news 19 June 2019 Summit Properties has sold an office building in Germany for €225m, 7.9% above its €208.6m valuation as at 31 December 2018. The property’s annual rental income as of 31 December 2018 totaled €4.62m, reflecting a rental yield of 2.1%. Regional REIT announced a number of new lettings, reporting 11.6% higher […]
Picton issue flops – Picton Property Income’s placing, which was announced on 12 June and trailed in its results announcement, has failed to raise its target. The company said it had identified important asset management initiatives “20 separate asset management initiatives… with total costs of approximately GBP15 million“, which it wanted to progress further over the short […]
In QuotedData’s other news 18 June 2019 Primary Healthcare Properties is launching a £150m convertible bond issue and using the money to repay its £75m, 5.375% senior unsecured bonds due 2019. The new convertibles will mature in July 2025, issued at par and are expected to carry a coupon of between 2.625% and 3.125% per annum payable […]
Aberdeen Standard European Logistics buys Dutch warehouse – Aberdeen Standard European Logistics Income has signed an agreement to acquire a freehold logistics warehouse in ‘s-Heerenberg, The Netherlands, for a net value of EUR24.0 million providing an expected net initial yield of 5.0%. The transaction is expected to close in July 2019. This is a freehold facility providing […]
In QuotedData’s other news 17 June 2019, Tritax Big Box REIT has entered into a new £200m unsecured revolving credit facility at a margin of 1.1% over LIBOR. The facility has a five-year life but can be extended for two more years. We also have an update on Leaf Clean Energy‘s court case
Alpha Real Trust announces tender alongside results – Over the year to 31 March 2019, Aplha Real Trust’s NAV rose from 172.9p to 204.3p. The quarterly dividend has been upped to 0.8p from 0.6p. The company sold its Frankfurt data centre site for EUR44.8 million and the Monk Bridge, Leeds Private Rented Sector residential site […]
In QuotedData’s other news 14 June 2019: Utilico Emerging Markets has published its annual report covering the year ended 31 March 2019. In a year where the MSCI Emerging Index delivered a zero return, the trust at least managed some positive performance, generating an NAV return of 3.5%. Shareholders also benefited from a narrowing discount. The […]
Tritax EuroBox buys a logistics facility near Frankfurt – Tritax EuroBox has bought a prime, modern logistics facility near Frankfurt in Germany for a total consideration of EUR50.6 million, reflecting a net initial yield of 4.75%. This is a new, well specified, purpose-built facility has a gross internal area of c.43,000 sqm, an eaves height of […]
In QuotedData’s other news 13 June 2019 – Augmentum Fintech made follow on investments totalling £8.5m in three of its portfolio companies – Tide, Monese and Duedil. BBGI has topped up its investment in the A1/A6 road project in the Netherlands. The project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a […]
In QuotedData’s other news 12 June 2019 – Picton Property Income plans to raise money via a placing of shares at 94.5p, a discount of 2.4% to the closing share price on 11 June 2019 and a premium of 1.9% to the last reported EPRA NAV as at 31 March 2019 of 92.7p. The money will be used […]
In QuotedData’s other news 11 June 2019: Shaftesbury says it has now been served with legal proceedings issued by companies controlled by Mr Samuel Tak Lee. The proceedings concern allegations and claims relating to the December 2017 placing of shares by Shaftesbury. They seek to challenge both the rationale for the placing and the way in which […]
In QuotedData’s other news 10 June 2019: JPMorgan European announced results for the year ended 31 March 2019 on Friday. The returns on the Growth (JETG) and Income (JETI) NAV were -2.3% and +1.4% respectively and, as discounts widened, shareholders saw returns of -7.9% and -4.9% respectively. The MSCI Europe ex UK index returned +2.2%. The dividend […]
Impact Healthcare REIT buys three care homes – Impact Healthcare REIT has recently exchanged contracts on three purchases for a total initial investment of GBP20.2 million, plus transaction costs. Once completed, these acquisitions, plus the acquisition of four homes from Maria Mallaband Countrywide Group announced on 2 May 2019 and rent increases achieved so far in […]
In QuotedData’s other news 7 June 2019: Impact Healthcare REIT (IHR) will join the FTSE EPRA/NAREIT global real estate index on Monday 24 June. Rupert Barclay, non-executive chairman of IHR, believes the inclusion will allow the company to increase its investor base and grow liquidity in the shares. The sub-investment grade focused debt investor, CVC Credit […]
Regional REIT to sell Tokenspire park for £11.1m – Regional REIT (RGL) has reached an agreement to sell Tokenspire Business Park in Beverley for £11.1m. The sale price is 30.6% higher than what RGL paid (£8.5m) and represents a net initial yield of 7%. Tokenspire covers more than 24 acres and consists of 322,211 sq. […]
Custodian REIT statement stresses benefits of diversification – Custodian REIT has published results for the year ended 31 March 2019. Highlights are: EPRA NAV of 107.1p down from 107.3p last year; dividend per share of 6.55p (2018: 6.45p), 110.4% covered by net recurring income; 2020 target dividend per share increased 1.5% to 6.65p; NAV per share total […]
In QuotedData’s other news 6 June 2019: Regional REIT has announced the sale of an office building in Sheffield at a price 25% higher than when it was last valued. Bought in 2016 for £6.3m, Aspect Court, Pond Hill, Sheffield was sold to Sheffield Hallam University for £8.8 million, reflecting a net initial yield of 6.6%. […]
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