Warehouse REIT has acquired a portfolio of five warehouses for £43.6m, reflecting a blended net initial yield of 6.7%. It has bought the properties from Greenstone Property Holdings, a company owned by Warehouse REIT directors Simon Hope and Stephen Barrow. The assets total 570,000 sq ft and provide an annual rent of £2.95m as well as […]
Supermarket Income REIT has acquired a Tesco Extra and an adjoining Aldi supermarket in Leicester from British Land. It has bought the two supermarkets for a total of £63.4m, reflecting a 6.4% yield. The acquisitions mean Aldi, which is one of the fastest growing grocers in the UK, has become a new tenant in Supermarket Income […]
Bluefield Solar Income (BSIF) has announced a proposed placing at a price of 124p, with the intention of raising a target of approximately £45m to repay a drawn revolving credit facility (RCF). The placing price represents a premium of approximately 8.3% to BSIF’s last published unaudited NAV as at 30 September 2020 (after deducting the FY20/21 fourth […]
QuotedData’s Morning Briefing 16 November 2020 – UK Mortgages (UKML) is to convene an extraordinary general meeting on 4 December. Its board is recommending that UKML should continue operating as a publicly-traded investment company under a revised mandate offering an increased focus on enhancing liquidity and returns whilst continuing to seek to narrow the discount. This […]
Hoorah, some good news. A vaccine breakthrough courtesy of Pfizer and BioNTech brought much needed positivity. For the property sector, it was the shot in the arm it needed just a week after lockdown 2.0 was announced. Will life go back to normal with a successful vaccine available or are trends developed during the pandemic, […]
QuotedData’s weekly news show 13 November 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, Shonil Chande and Richard Williams covered the week’s top stories: IPO: Round Hill Music IPO Intention to float: VH Global Sustainable Energy Opportunities, and Schroder […]
Tritax Big Box REIT has bought a logistics facility let to Tesco for £44.2m, funded through cash and the issue of new shares to the vendor. The group has acquired the temperature controlled distribution unit in Southampton from a “UK real estate fund” at a net initial yield of 5.24%. The £44.2m acquisition will be […]
Hipgnosis Songs Fund (SONG) has announced that it has acquired a share of the music catalogue of “Grammy Award winning songwriter, record producer, and punk-funk inventor, Rick James”. Hipgnosis has acquired 50% of Rick James’ Publishing interests, Writers’ share, Neighbouring Rights (Sound Exchange) and Recorded Masters (UMG) share of income in his catalogue comprising 97 […]
Schroder Oriental Income has announced its annual results for the year ended 31 August 2020, during which it provided an NAV total return of -0.9% and a share price total return of -3.9% (reflecting a widening of the discount during the period) both of which suggest it has missed the mark a little, underperforming its […]
AVI Global (AGT) has announced its annual results for the year ended 30 September 2020, which show that, during the second half of its financial year, the trust’s NAV (having reported at the half year stage a reduction in value of almost a quarter) has bounced right back with all of the fall recovered (overall, […]
In QuotedData’s Morning Briefing 13 November 2020: EPE Special Opportunities (ESO) has announced that it has completed a $2.5 million investment in a segregated account of Prelude Structured Alternatives Master Fund LP, which will invest in distressed credit opportunities, targeting a fund level gross annual return of 6-8%. ESO is investing in junior tranche and it […]
Downing Renewables and Infrastructure publishes prospectus As promised, here is a link to the prospectus, which was published today. As the prospectus makes clear, access to the issue is subject to some geographical restrictions. Make sure you read these. As always, we aren’t recommending that you buy the stock but we think it is interesting and […]
Regional REIT has announced it will sell all non-office assets after a strategic review by the board. The group’s portfolio consists of 150 properties worth £739.9m, 80.3% weighted to offices located outside of London. It will look to dispose of its industrial assets (13.9% of the portfolio), retail (4.3%) and other sectors (1.5%), valued at […]
In QuotedData’s morning briefing 12 November 2020: Further to its announcement on 17 September, Securities Trust of Scotland has provided an update confirming: Troy Asset Management Limited has been formally appointed as the Company’s investment manager James Harries is the named fund manager A discount control mechanism has been introduced that aims to ensure that the […]
VH Global Sustainable Energy Opportunities (GSEO) has announced its intention to launch an IPO on the main market of the London Stock Exchange (LSE). It is targeting £400m, which would be deployed towards a portfolio of global sustainable energy infrastructure assets, predominantly in countries that are members of the EU, OECD, OECD key partner countries or OECD […]
Ecofin U.S. Renewables Infrastructure Trust (RNEW) announced its intention to launch an IPO and seek admission to the premium segment of the London Stock Exchange’s (LSE) main market. The company is targeting $250m to invest in a diversified portfolio of mixed U.S. renewable energy assets benefiting from supportive government incentives and the availability of fixed longer-term […]
London office owner and developer Great Portland Estates said it expects rental values to fall by between 5% and 10%. Chief executive Toby Courtauld said rising unemployment due to the impact of COVID-19 will mean “rents and capital values in London will fall further”. The group gave the guidance as part of half-year results to […]
Round Hill Music Royalty Fund’s IPO has raised gross proceeds of US$282m. An application has been made for the admission of its shares to the specialist fund segment of the main market on the LSE, which is expected to occur at 8:00 am 13 November 2020. The company’s investment objective is to provide investors with […]
Over its half-year results period to 30 September 2020, 3i Infrastructure (3IN) generated a total return of 3.8%. 3IN says that the portfolio is performing in line with expectations, both financially and operationally. 3IN delivered a total shareholder return of 18.9% in the period (the company notes that the FTSE 250 index returned 16.0% over […]
In QuotedData’s morning briefing 11 November 2020 – Gabelli Value Plus+ (GVP) published a circular in connection with the notice requisitioning a general meeting of the company from Associated Capital Group. On 22 October, GVP received a notice from ACG requisitioning a general meeting of the company. GVP’s board says that it does not consider that the package of measures […]
Schroder British Opportunities announces intention to float and raise up to £250m – Schroder British Opportunities Trust this morning announced its intention to launch an IPO and to admit its shares on the premium segment of the official list of the financial conduct authority and to trading on the main market of the London Stock Exchange. […]
Urban Logistics REIT has acquired a logistics site for £34.3m as it continues to deploy the proceeds of its recent equity raise. The company has bought the site in Hoddesdon, Hertfordshire, at a net initial yield of 5.4%. The 12-acre site comprises five units, three of which are let to Müller UK & Ireland Group, a […]
AEW UK REIT has acquired a multi-let industrial estate, which increases its exposure to the sector to 54.3%. The company has bought Westlands Distribution Park in Weston Super Mare for £5.4m, using the proceeds from the sale of its largest asset earlier this year. The purchase price reflects a net initial yield of 6.4%, which […]
Land Securities has reported an £835m loss for the six months to the end of September 2020 as the value of its property portfolio tumbles £945m (7.7%) to £11.8bn. The company’s EPRA net tangible assets (the new metric that replaces EPRA NAV) was down 9.5% to 1,079p. Adjusted diluted earnings was down 49% to 15.5p […]
Gresham House Energy Storage (GRID), currently the UK’s largest fund investing in utility-scale energy storage systems, is set to grow after announcing a new share issuance programme to be conducted over the next 12 months. The initial placing and offer for subscription are launching today. In the announcement, GRID says that “it intends to build on its […]
Countrywide gets 250p approach – Countrywide has received an indicative approach from Connells Limited to acquire the entire issued and to be issued share capital of the Company, in cash, at a price of 250 pence per Countrywide share. The approach is at an early stage and Connells Limited has indicated that any offer is conditional […]
In QuotedData’s morning briefing 10 November 2020 – ICG Enterprise (ICGT) announced the appointment of David Warnock as a non-executive director with effect from 1 December 2020. David co-founded the investment firm of Aberforth Partners and was a partner for 19 years until his retirement from that firm in 2008. The announcement also notes that […]
Schroder REIT has provided a trading update in which it has stated it has collected 84% of rent for the quarter so far. The company, which owns a diverse portfolio of property assets in the UK, said the collection rate was ahead of the equivalent date in the previous quarter. The breakdown between sectors is 93% […]
Urban Logistics REIT has bought five logistics assets for £33.1m just weeks after raising more than £90m in a fundraising. The deals were all conducted off-market at a blended net initial yield of 6.4%. The assets Ripon The group has acquired a 43,881 sq ft distribution unit in Ripon for £2.9m in a sale-and-leaseback deal […]
BioPharma Credit (BPCR) announced that it, through its fully owned subsidiary, together with BioPharma Credit Investments V has entered into an amended and restated loan agreement with Epizyme, which will see BPCR invest an additional US$75m in the Epizyme loan. This amended loan agreement is dated 3 November. Under the original terms of the loan agreement, […]
