Overview
Summit Properties (formerly Summit Germany : SMTG) is focused on building a substantial portfolio of commercial properties. The company’s investments are primarily made in multi-let commercial office, retail and logistics properties situated mainly in Germany’s main financial centres and generating income by way of lettings to commercial, governmental/public sector and industrial tenants.
Its objective is to deliver an attractive dividend yield with sustained growth in both income and capital value
Research History
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22 Jan 2021 16 min read
QuotedData’s Real Estate Annual Review – 2020
Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Riding out the COVID rollercoaster The 2020 rollercoaster saw more downs than ups and at times felt like a pandemic induced freefall. Lockdowns, tiers and plenty of U-turns meant investing in property was not for the faint hearted. Positivity returned at the end of the […]
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10 Mar 2020 16 min read
QuotedData’s Real Estate Roundup – March 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the chart below. Property stocks tumbled in February as fears over the spread of Covid-19 spooked financial markets around the world and resulted in the largest sell-off since the 2008 financial crisis. There were just […]
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22 Feb 2019 2 min read
QuotedData’s investment companies roundup – February 2019
QuotedData’s investment companies roundup – February 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2019. Kindly sponsored by Baillie Gifford. December’s sharp sell-off in technology and growth stocks reversed somewhat in January. This was […]
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14 Sep 2018 1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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13 Oct 2016 1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
News
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17 Feb 2020 1 min read
Summit Properties tender and AIM exit
Summit Properties tender and AIM exit – Summit Properties is holding a tender offer for a third of its shares (148,275,862 shares) at €1.45 a share. The EPRA NAV at the end of September was €1.68 and it looks as though that might have risen since so the tender is being carried out at at […]
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19 Jun 2019 1 min read
QuotedData’s other news 19 June 2019
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 […]
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18 Apr 2019 1 min read
QuotedData’s other news – 18 April 2019
QuotedData’s other news – 18 April 2019 TriplePoint Social Housing REIT has bought six supported housing properties and acquired the land and entered into forward funding arrangements to develop another two supported housing schemes, comprising 80 units in total, for an aggregate commitment of GBP14.8 million. These leases are with specialist housing associations, including Falcon Housing Association, […]
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15 Jan 2019 1 min read
Summit Germany considers spinning out German real estate
Summit Germany considers spinning out German real estate – Summit Germany has announced that it is considering a private placement and listing of shares in Summit Luxco S.à r.l. (“Luxco”) on the regulated market of the Frankfurt Stock Exchange (Prime Standard) in 2019, subject to market conditions. Luxco currently is a wholly-owned subsidiary of Summit and […]
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29 Oct 2018 1 min read
Summit Germany buys Fortress portfolio
Summit Germany buys Fortress portfolio – Summit Germany Limited has entered into an unconditional agreement to acquire a portfolio of commercial properties from several subsidiaries of Fortress Immobilien AG. The total purchase price is €86m, including acquisition costs. The acquired properties consist of 8 well located multi service centers in major cities in Germany; mainly Berlin, Frankfurt […]
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06 Aug 2018 1 min read
Summit Germany takes control of GxP German Properties
Summit Germany takes control of GxP German Properties – Summit Germany has entered into an unconditional agreement to acquire around 72% of GxP German Properties AG, a company listed on the Frankfurt Stock Exchange, from Consus Real Estate AG and other minority holders. GxP owns an office portfolio of ca. EUR166 million in major German cities, mainly […]
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15 Dec 2017 6 min read
Henderson Alternative Strategies benefits from marked discount narrowing
Henderson Alternative Strategies Trust (HAST) has announced its annual results for the year ended 30 September 2017. During the period, HAST provided an NAV total return of 10.8% and, reflecting a marked narrowing of the discount, a share price total return of 19.8%. The share price performance is superior to that of the company’s benchmark, […]
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27 Jun 2017 1 min read
Summit Germany spends €100m in Wolfsburg
Summit Germany spends €100m in Wolfsburg. Summit Germany Limited, the AIM-listed German commercial property investment company, has announced that it has entered into an unconditional agreement with Dazzle Capital Holdings Ltd., for the acquisition of a portfolio of commercial properties at a total purchase price of approximately €100 million including acquisition costs, located in 4 different […]
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21 Dec 2016 1 min read
Summit Germany sells vacant Hamburg office building for €14m
Summit Germany has announced that it has sold a property located in Hamburg for a cash consideration of €14 million. It says that the property is a vacant office building, following lease expiry in September 2016, and that the proceeds from this disposal are in line with the last independent property valuation and will be used […]
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28 Sep 2016 2 min read
Summit Germany sees improvement in profitability
Summit Germany has announced its interim results for the six months ended 30 June 2016. During the period, the company’s EPRA increased by 1.2% to €432.6m (31 December 2015: €427.5m). In terms of the company’s financial performance, net rental income increased by 31% to €28.9m (first half of 2015: €22.1m, full year 2015: €49.6m), whilst […]
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04 May 2016 2 min read
Summit Germany aims to increase yield
Summit Germany’s results for 2015 show it increasing its EPRA NAV from 87 cents to 97 cent per share. The company’s second fund raising and the profit generated during the reporting period contributed greatly to the increase in the Group’s EPRA NAV of the whole fund to EUR427.5 million as of the end of the reporting period. […]
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11 Jan 2016 1 min read
Summit Germany acquires office buildings in Munich and Duisberg
Summit Germany has announced that it has acquired two office buildings, one in Munich and the other in Duisburg, for a total purchase price of €15m (including acquisition costs). The company says that the properties consist of approximately 12,000 square metres of lettable area and are fully let to several strong tenants with a weighted […]
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06 Jul 2015 1 min read
Summit Germany buys loans on six properties
Summit Germany has acquired a loan facility secured on six commercial properties in Germany. The deal price is €40m and they are buying loans with a face value of €78m. The Company has previously owned the Portfolio (The Telecom Portfolio) and as a result of acquiring the loan facility, will regain full control. The Portfolio consists […]
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29 Apr 2015 1 min read
Summit Germany busy investing proceeds of fund raising
Summit Germany says its EPRA net asset value rose by 24% to 87 cents over the course of 2014 and earnings per share almost tripled to 23.7 cents as rents rose and occupancy hit 90.4%. They paid dividends of 2.85 cents for 2014 and are announcing a quarterly dividend of 0.77 cents today. the plan […]
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30 Mar 2015 1 min read
Summit Germany refinances manager loan
Summit Germany has refinanced 9 of the 11 properties in its portfolio that were acquired in April 2014 with a €33m loan from a German bank. With this deal done, they are able to repay the debt lent to them by Summit Israel (the parent company). The new loan comes at an interest rate of 1.96% […]
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15 Jan 2015 1 min read
Summit Germany raises €120m
Summit Germany has announced that it has raised €120m from investors by way of a placing of 171.4m new shares at 70- cents per share. They plan to use the money to expand the portfolio and have identified an office portfolio worth the full €120m which they are now negotiating on, part of this will […]
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09 Dec 2014 2 min read
Summit Germany – manager believes market is moving towards best year since 2007
Summit Germany, the German commercial real estate company, has provided a trading update with a number of key developments. The first is that it has agreed terms to refinance €268m of its €309m debt facilities. This includes a new €240m, 7 year, 3.4% debt facility (the current loan is at 3.9%) which is expected to be in place by […]
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08 Apr 2014 1 min read
Summit Germany : SMTG – deals
Summit Germany has announced two deals. For the largest of these they are paying €45.5m to acquire a loan facility with a face value of €74m secured against 11 properties that Summit Germany used to own. Effectively Summit will now control these properties. The portfolio consists of nine office buildings and two retail properties with a total lettable area […]
