Civitas Social Housing has secured Investment Grade credit rating with Fitch Ratings. It has been rated High Credit Quality rating of “A” (senior secured) and a Long-Term IDR (Issuer Default Rating) of “A-” with a stable outlook. The rating will allow Civitas to grow its debt funding strategy and gives it access the broader bond […]
Urban Logistics REIT has forward funded on a speculative basis the development of five assets in the East Midlands for £23m. The group has exchanged contracts with developer Wilson Bowden Developments, conditional on receipt of planning permission, to finance the construction of two sites in Nottingham and Leicester. The development yield on cost of 6.12% […]
Sirius Real Estate, the German business park owner, has completed the acquisition of a 8,800 sqm mixed-use business park in Fellbach, near Stuttgart, for €9.2m, reflecting an EPRA net initial yield of 6.0%. The asset is located adjacent to a business park already owned by Sirius, with the acquisition creating an enlarged business park comprising over 36,000 […]
Warehouse REIT, the multi-let industrial specialist, has acquired an asset at Glasgow Airport Business Park for £5.3m, reflecting a net initial yield of 6.3%. The asset, which comprises three units totalling 55,600 sq ft, is occupied by two global transport companies and a craft beer distributor. It generates an annual income of £357,000, equating to […]
The listed property sector is ripe for merger and acquisition (M&A) activity with many real estate investment trusts (REITs) still trading at significant discounts to net asset value (NAV). Today we saw RDI REIT the subject of a £467.9m takeover bid by Starwood Capital at a price offering a huge premium to its share price, […]
RDI REIT has announced an agreement on the terms of a £467.9m cash offer for the company by Starwood. Starwood already owns 29.59% of the company and has made an offer of 121.35p for the remaining shares. This price presents a premium of 33.1% to last night’s closing price of 91.2p and a 38.2% premium […]
Shaftesbury collected just 36% of rent due in the first month of 2021 as the lockdown meant the majority of its portfolio was shuttered. The group, which owns a 16-acre portfolio in the heart of London’s West End – including Carnaby Street, Covent Garden and Chinatown, said it had received £3.5m of the £9.8m billed […]
Aberdeen Standard European Logistics Income (ASLI) has reported a 6.6% increase in net asset value (NAV) for the quarter to the end of December 2020. The growth in NAV, to 120.1€c per share (107.9p) from 112.7€c (102.9p) in September 2020, was mainly due to a 6.0% increase in the value of its property portfolio. [QD […]
The proposed €200m (£173m) equity raise by Tritax EuroBox should be enthusiastically received by investors. The group recognises that now is the time to be growing in the burgeoning European logistics sector, with structural tailwinds well and truly in its favour. Like in the UK, online retailing was already rising in Europe before the pandemic, but […]
Tritax EuroBox, the European logistics investor, has proposed an equity raise of £173m (€200m) as it looks to expand its portfolio in the burgeoning property sector. The group will use the proceeds, together with existing cash (from the €65.5m sale of a Polish asset last week) and new debt, to acquire a near term pipeline […]
