This sector includes mortgage companies, property management companies and REITs
Highcroft sells Southampton warehouse – Highcroft Investments has announced the sale of its long leasehold interest in a property on the Nursling Industrial Estate, Southampton. The property comprises a warehouse unit of 25,300 sq ft, on a 1.45 acre site. It is occupied by Metabo (UK) Ltd on a lease expiring in September 2020 producing an […]
Westmoreland rated V3G3 but Triple Point says impact minimal – Triple Point Social Housing REIT has made an announcement following the Regulatory Judgement published today by the Regulator of Social Housing in relation to Westmoreland Supported Housing Association. Westmoreland, a registered provider focused on the supported housing sector, has 1,379 social housing units under management and […]
Schroder European Real Estate (SERE) has announced its final results for the year ended 30 September 2018. SERE’s Chairman, Sir Julian Berney Bt., has described it as “another strong year that has seen SEREIT delivering growth in both net asset value and income”. He says that this was chiefly underpinned by the profitable disposal of […]
Impact Healthcare will have no further fundraising in 2018- Impact Healthcare REIT (IHR) will not have any further fundraising in 2018 after they have decided that they no longer wish to acquire a portfolio of UK care homes consisting (announced of 24 October 2018) of 2,500 beds. The company has not announced why they no […]
PRS REIT has acquired development site – PRS REIT (PRSR) has announced today that they have purchased four new development sites. Two of the sites will be acquired immediately and, for the other two, PRS has entered into a forward funding arrangement. The four acquisitions combined represent a total of 464 new family rental homes […]
Possible takeover of Intu is withdrawn- Intu Properties (INTU) has announced that the consortium of Peel Group, the Olayan Group and Brookfield Property Group have decided that given the current macroeconomic conditions and the potential near term volatility across markets the offer has been withdrawn. Intu’s shares have dropped by 40% over the course of […]
Shaftesbury resilient to Brexit slowdown – Shaftesbury PLC owns a 15-acre portfolio in the heart of London’s West End. It says “The West End’s global appeal and resilient, broad-based economy provide considerable insulation from headwinds affecting the national economy and consumer confidence“. For the year ended 30 September 2018, it reports: EPRA NAV of GBP9.91 (2017: […]
Phoenix Spree Deutschland agrees lower management fees – Phoenix Spree Deutschland Limited has entered into a new property advisory and investor relations agreement with PMM Residential Limited. The new agreement replaces the existing property advisory agreement. It will reduce future management fees and result in significant cost savings: Based on the EPRA NAV as at 30 June […]
Tritax Big Box confirms Littlebrook planning approval – Tritax Big Box REIT owns 114 acres of prime London development land at Littlebrook, Dartford, within the M25, which was acquired in July 2017. It has successfully secured planning permission from Dartford Borough Council for the proposed development of a 450,240 sq ft cross-docked logistics facility with […]
Aberdeen Standard European Logistics buys in France- Aberdeen Standard European Logistics Income PLC (ASLI) acquires a high quality logistics warehouse in Meung-sur-Loire, France. The total value of the acquisition is €23.5 million which will provide Aberdeen Standard a net initial yield of 4.7%. Contracts will become unconditional by no later than 22 January 2019. The […]
ReSI outperforms its expectations- Residential Secure Income plc (“ReSI”) (RESI) outperforms its expectations for the year since its IPO in July 2017. The NAV total return for the year was 9.5% which exceeded the 8%+ target set at IPO. This was driven by 7.0% uplift in portfolio valuation to £225.2 million compared to their acquisition […]
Intu Properties updates on possible takeover- Intu Properties (INTU) announced that there is currently a consortium of companies that are currently in the process of trying to put a cash offer together for Intu. The consortium consists of the Peel Group, the Olayan Group, and Brookfield Property Group. The independent committee formed by Intu decided […]
Tritax Eurobox buys another facility in Hannover- Tritax Eurobox (EBOX/BOXE) has exchanged contracts to provided forward funding for a new development of a new cold store and primary distribution facility at Wunstorf, near Hannover Germany. The contract is conditional on receiving the building permit. The development represents an investment of €27.5 million, which gives a […]
LXi REIT has made six new property acquisitions- LXi REIT has purchased six new properties with total consideration of £62.4 million (excluding costs). This has the companies £175 million equity raise on 12 October 2018 fully deployed. All six properties are 100% linked to the retail price index. The weighted average unexpired lease terms to […]
Regulator verdict on Trinity Housing – Following on from our story of 3 October, The Regulator for Social Housing has passed a regulatory judgement on Trinity Housing Association. Its conclusion on governance and viability is: G3 (Non-compliant) The provider does not meet our governance requirements. There are issues of serious regulatory concern and in agreement […]
Tritax EuroBox buys logistics warehouse near Bochum- Tritax Eurobox has announced today that they have acquired a prime, new modern logistics warehouse near Bochum, in the Rhine-Ruhr region of Germany (which they describe as a core established logistics area). Tritax has divided the 36,400 sqm building into four units with eaves height of 12 metres. […]
Target Healthcare REIT buys in Oxford and Sevenoaks- the value of the two development sites is £37 million (including transaction costs and future development work). The rest of Target Healthcare’s remaining uncommitted capital is fully deployed. The remaining development will be funded under capped development contracts. The two projects are located in Cumnor Hill, Oxford […]
Aberdeen Standard European Logistics buys Dutch warehouse – Aberdeen Standard European Logistics has exchanged contracts to acquire a new development in Oss, the Netherlands, for a purchase price of €15.7m, providing a net yield of 5.3%. The agreement with developer Heembouw Breda B.V is structured as a forward funding deal with a 5.5% coupon rate. The development […]
Tritax EuroBox buys Action Logistics warehouse near Hannover – Tritax EuroBox has bought a prime, modern logistics warehouse at Peine, near Hannover, Germany (which they describe as a key logistics location). The property is let to Action Logistics Germany GmbH, a subsidiary of Action BV, the fastest growing non-food discount retailer in Europe, headquartered in the Netherlands […]
Residential Secure Income buys shared ownership portfolio – Residential Secure Income has exchanged contracts to acquire 34 new build homes located in the London Borough of Barnet, which it intends, using government grant funding, to convert into shared ownership homes. It says that it has plans to make similar deals in future, making use of government grant […]
SEGRO sells Belgian warehouses to Tritax EuroBox – SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership joint venture, has sold four big box warehouses and adjacent development land in Belgium to Tritax EuroBox. The partnership has received net proceeds of €83.4m (SEGRO owns 50 per cent of the partnership so its share […]
RDI REIT cuts cost ratio to boost earnings – RDI REIT has announced results for the year ended 31 August 2018. Highlights include: EPRA NAV per share increased 3.4% to 42.8 pence Underlying earnings per share of 2.84 pence, an increase of 3.3% Net rental income increased 2.1% on a like-for-like basis EPRA cost ratio (excluding direct […]
Triple Point Social Housing invests in another 87 units – Triple Point Social Housing REIT has completed the acquisition of ten supported housing properties, acquired the land and entered into forward funding arrangements to develop another supported housing scheme and exchanged contracts on one further supported housing property, comprising 87 units in total, for an aggregate commitment […]
Warehouse REIT buys Widnes Amazon warehouse – Warehouse REIT has exchanged contracts for the acquisition of a warehouse in Widnes, Cheshire for£2.765m, reflecting a net initial yield of 7.3%. The asset is fully let to Amazon UK Services Ltd on a newly agreed five-year lease to serve the online retailer’s last mile distribution requirements across the surrounding […]
LXi REIT deploys £109m – LXi REIT recently raised £175m from investors and today it has announced five deals that will deploy £109m of this. The company says it is in solicitors’ hands on further acquisitions which will fully deploy the balance in the next few weeks. Further acquisition announcements will be made shortly. BCA logistics facility, […]
UK Commercial Property sells Barclays Bank in Exeter – UK Commercial Property REIT Limited has sold a retail asset, 16-20 High Street, in Exeter, to a UK pension fund for £23.5m. The price is in line with book value and reflects a net initial yield of 4.75%. The sale follows the completion of the REIT’s asset management […]
Regulator looking into Westmoreland Supported Housing – The Regulator of Social Housing has published a new grading under review notice – this time on Westmoreland Supported Housing, a leading registered provider in the portfolios of Civitas Social Housing and Triple Point Social Housing REIT. The notice says “The Regulator of Social Housing reports that Westmoreland Supported Housing Limited […]
Tritax Big Box REIT buys Bosch warehouse – Tritax Big Box REIT has exchanged contracts, conditional on receiving full planning consent, to provide forward funding for the development of a new National Distribution Centre at Midlands Logistics Park, Corby. The property is pre-let to BSH Home Appliances Limited, part of the Bosch Group. The Bosch Group is […]
SEGRO sells Rome warehouse to Tritax EuroBox – SEGRO has exchanged contracts to sell a 158,000 sq m warehouse in Rome for EUR118 million. The transaction is expected to complete by the end of October 2018. The warehouse was developed by SEGRO-Vailog in August 2017 for a global online retail company on a 15 year lease. […]
Local Shopping REIT may be worth 34.5p per share – The Local Shopping REIT has sold or exchanged contracts for sale on 36 properties since its last update, for an aggregate price of £5.8m, a 1.1% premium to carrying value before sales costs. 16 of these properties were sold at auction, mainly in September. The aggregate sale […]
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