In QuotedData’s morning briefing 21 October 2021: Custodian REIT (CREI) has bought a 28,601 sq ft industrial unit on Clifton Moor Industrial Estate, York, adjacent to York’s northern bypass which connects to both the A1(M) and M62. The unit is occupied by Menzies Distribution Limited with a weighted average unexpired term to first break or […]
Urban Logistics REIT has acquired two assets for £15.1m at a 6.0% net initial yield (NIY). The assets include one income producing asset providing immediate additional revenue, and a forward funding development project. Around £50m of further investments are in advanced stages of contractual progress and are expected to be completed in the near term […]
Metage Capital opens new front against Third Point Investors – following on from Asset Value Investors’ attempts, on behalf of clients such as AVI Global, to get Third Point Investors to tackle its discount, Metage Capital has today written to the board of Third Point Investors. We reproduce the letter in full. Dear Fellow Shareholders, […]
Target Healthcare REIT, the care homes investor, delivered a net asset value (NAV) total return for the year ended 30 June 2021 of 8.8%. EPRA net tangible assets (NTA) was up 2.1% to 110.4p per share, while the group paid out dividends of 6.72p. The dividend (which was up 0.6% on 2020) was not fully […]
Gore Street publishes upbeat trading update – Gore Street Energy Storage Fund says that in September, the storage assets it has in Great Britain that participated in the actively-traded GB power markets generated revenues nearly two times their September forecasts. This is due to increasing GB power prices and price volatility and the ability of the […]
Gresham House Strategic board hits back at Gresham House – this is one of those situations where it is easiest just to replicate the statement in full. “The independent directors of Gresham House Strategic plc (“GHS” or the “Company”) (“Independent Board”) note the announcement by Gresham House plc (“GHE”) published on 19 October 2021, and […]
BBGI buys stake in Canadian hospital – BBGI Global Infrastructure SA has entered into an agreement to acquire a 25% interest in Center Hospitalier de l’Université de Montréal (CHUM), in Montreal, Québec, Canada. The public-private partnership project originally consisted of the design, construction, finance, operation, and maintenance of a fully functional new hospital facility including new […]
Scottish Investment Trust to be taken over by JPMorgan Global Growth and Income – After an extensive review, the board of Scottish Investment Trust has decided that its best option is to combine the trust with JPMorgan Global Growth and Income. The board says that a large number of proposals was received and evaluated with […]
JPMorgan European shake up planned – The board of JPMorgan European Investment Trust has concluded its review of the company and its strategy. This included considering various options to improve marketability and to broaden the appeal of the company as well as to improve liquidity and to narrow the discount. The board believes there remains a […]
EP Global Opportunities responds to shareholder unrest – At its AGM in April 2021, two resolutions were passed with a majority of less than 80% of the votes cast. The first of these was to re-elect the chairman, Teddy Tulloch, as a director, and the second to renew the authority of the company to sell ordinary […]
In QuotedData’s morning briefing 20 October 2021, it is very busy for a Wednesday: Drum Income REIT (DRIP)’s shareholders have overwhelmingly approved the absorption of the trust into Custodian REIT. Court approval for the scheme is expected on 1 November; Drum’s shares will be suspended on 3 November and delisted on 4 November; and the […]
Huge take-up for Fidelity Emerging tender spells trouble – As we have discussed previously, Fidelity Emerging Markets offered investors a 25% tender offer in conjunction with the move of the manager from Genesis to Fidelity. The size of the vote against this decision was one indication that shareholders were uneasy. However, now we have decisive […]
Much better numbers from JPMorgan Multi Asset – JPMorgan Multi-Asset Growth and Income Trust (MATE) has published half-year results covering the six months ended 31 August 2021. The trust’s NAV returns were triple those of its benchmark – a return of 9.2% against its 3.0% target – and shareholders benefited from a return of 21.5% […]
Alinda Capital Infrastructure Investments intention to float – pretty soon after the announcement of the intended launch of an infrastructure trust by Pantheon, along comes another. The company is seeking to raise £350m from a placing and offer for subscription of shares at 100p. In addition, a placing programme will enable the company to issue […]
A new real estate investment trust (REIT) focused on the life science laboratories is looking to raise £300m in an initial public offering (IPO). Life Science REIT has announced its intention to launch on the Alternative Investment Market (AIM) of the London Stock Exchange through a placing, offer for subscription and intermediaries offer targeting the […]
Gresham House just wants everyone to be treated equally – In a statement released this morning, Gresham House sets out its case for requisitioning a meeting at Gresham House Strategic and says that support for its move has risen since last Thursday. “Best practice corporate governance sits at the heart of Gresham House’s strategy as an […]
In QuotedData’s morning briefing 19 October 2021: Augmentum Fintech (AUGM) is making a £10m investment into Zopa as part of that company’s latest funding round of £220m. The funding round is being led by SoftBank Vision Fund 2 with participation from Chimera Abu Dhabi, and is conditional on regulatory approval. Augmentum is investing alongside other […]
Following the success of our ESG Webinar Series in November/December 2020, we will be hosting this year’s ESG Webinar Series on 16th, 17th and 18th November 2021. Each morning will focus on a different aspect of ESG with managers having the opportunity to present on their companies and how the specific aspects of ESG are embedded in […]
Home REIT has deployed £166.4m of the proceeds raised in its £350m equity issue less than a month ago. The company has acquired 23 portfolios comprising 366 properties located across England and Wales and added a further 1,850 beds to the portfolio, bringing the total to 1,077 properties and just under 5,700 beds. The acquisitions […]
HydrogenOne backs Sunfire – HydrogenOne Capital Growth has committed to its first private equity investment of €24m (£20m) in Sunfire GmbH, a leading electrolyser producer, for a minority equity stake. HydrogenOne has the right to a board observer seat at Sunfire, and intends to collaborate with Sunfire on the roll-out of future hydrogen manufacturing projects. HydrogenOne’s […]
New chapter in Gresham House Strategic saga – We covered the proposed appointment of Harwood as managers to Gresham House Strategic on Friday’s show. At the time, it looked like a done deal. However, after the market closed on Friday, the board said that they had received another requisition from Rock Nominees Limited (on behalf […]
In QuotedData’s morning briefing 18 October 2021: LondonMetric Property has bought two last mile logistics assets in Fulham and Tottenham for a combined purchase price of £20.2m. The assets total 44,000 sq ft and have been acquired with vacant possession in two separate transactions. LondonMetric will refurbish both properties at a cost of £1.4m which, once […]
QuotedData’s weekly news show 15 October 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Gresham House Strategic • Castlenau Group • Artemis Alpha This week’s interview was with Nicholas Yeo of […]
Investors looking for fresh ideas on where to invest their allocation to real estate could do worse than look at the nascent private rented sector (PRS) in the UK. PRS as an asset class is still at an embryonic stage in the UK (huge in the US and Germany) due to the hardened home ownership […]
There’s a fair bit of activity in the investment companies IPO market at the moment. Existing funds are raking in cash too and fighting for attention can be hard. This week saw the successful launch of Castlenau Group (a fund investing in UK companies that bears a lot of similarity with Aurora Investment Trust, not […]
Artemis Alpha (ATS) has announced proposals to cancel its October 2021 25% tender offer and, instead, committing itself to a sustainable share buyback policy with the target of maintaining a narrow discount, similar to the tender price. Shareholders are to be offered an ‘advisory vote’ on the decision (this avoids the cost of publishing a […]
Electra (ELTA), which is soon to be renamed as Unbound has provided an update on the demerger of Hostmore (Click here to see our previous story on Electra’s demerger proposals), which is principally TGI Fridays but also a brand called 63rd and 1st. Subject to approval by Electra shareholders on 1 November 2021, the Hostmore […]
In QuotedData’s morning briefing 15 October 2021: Marwyn Value Investors (MVI) has updated following the completion of Zegona’s tender offer (at £1.535 per Zegona ordinary share). Following the tender, the Marwyn Funds are due proceeds of £45,425,386 attributable to MVI’s ordinary shares and £6,686,881 attributable to MVI’s realisation shares. The Zegona Realisation Share Proceeds, along […]
Capital & Regional, the shopping centre REIT, has reached an agreement with its lenders to restructure and reduce the debt secured over four of its mall assets, including the launch of a fully underwritten open offer to raise £30m. The facility currently comprises a £265m debt with RBS and TIAA secured over the four mall […]
Grainger has exchanged conditional contracts to forward fund and acquire Merrick Place, a build-to-rent development scheme in Southall, west London, for £141m. Proceeds from Grainger’s recent equity placing will be used to acquire the 401 home development. Located adjacent to Southall Station, which includes the new Crossrail station, Merrick Place will also comprise 18,116 sq […]
