Real Estate News
This sector includes mortgage companies, property management companies and REITs
This sector includes mortgage companies, property management companies and REITs
LondonMetric Property has delivered strong half-year results in which net tangible assets (NTA) jumped 3%. The company saw the value of its portfolio, which comprises industrial and logistics and long-income assets, increased by 2.3% to £2.4bn. As a result, EPRA NTA for 30 September 2020 was 175.5p, compared to 170.3p in March 2020. Net rental income […]
In QuotedData’s morning briefing 19 November 2020: International Biotechnology reports that an uplift in the value of its stake in SV Fund VI has added $4.8m (£4.0m) or 9.1p per share to its NAV. Octopus Renewables Infrastructure Trust has secured a committed £150m revolving credit facility (RCF) from a group of five lenders. The RCF, provided […]
AEW UK REIT reported share price total return for the six months to the end of September of 16.1%. The group, which owns a diverse property portfolio, posted a net asset value of 92.73p per share (down slightly from 93.13p on March 2020). It paid dividends during the period of 4p per share, meaning its […]
British Land has announced the sale of a West End development for £177m, at a 7.6% premium to book value, as well as half-year results. The group disposed of Clarges Mayfair, which consists of 50,000 sq ft of offices, 15,000 sq ft of retail and 34 residential apartments. It acquired the site in 2012 and […]
In QuotedData’s Morning Briefing 18 November 2020 – Ahead of its AGM on 25 November 2020, JPEL Private Equity (JPEL) provided an update on its realisation strategy, noting that its manager is in advanced negotiations to sell its largest asset, its interest in MBI Holding. The transaction price would be around its carrying value with […]
McKay Securities, which owns a portfolio of office and logistics assets in the South East of England, said it was “ideally placed to benefit” from a shift in the office sector caused by COVID-19. Its office portfolio, which accounts for 56.3% of its £438.95m portfolio, is predominantly located in towns in the Home Counties that […]
Schroder REIT has reported a 2.8% drop in its net asset value (NAV) in half-year results to the end of September 2020. NAV per share now stands at 58p versus 59.7p at 31 March. The fall was due to a 3.4% decrease in the value of its 39-strong property portfolio during the period, which is […]
In QuotedData’s morning briefing 17 November 2020: BBGI Global Infrastructure has announced a placing of up to £55m worth of shares at a price between 164p and 172p. the money wil be used to help pay for a 25% stake in Signature on the Saint-Lawrence Group, the operator of the Samuel De Champlain Bridge Corridor in Montreal, […]
Home REIT, the recently launched REIT that funds the acquisition and creation of homeless accommodation, has acquired a further five portfolios of properties in England for a total of £41.6m. The deal means that since its £240m initial public offering (IPO) on 12 October 2020, the group has invested more than £50m in accommodation that will house […]
Stenprop has acquired two multi-let industrial (MLI) estates for £14m, as it continues its transition into a fully focused UK MLI landlord. Together the two estates, in Durham and West Bromwich, comprise 58 units and produce just over £1m of annual rent. The largest of the two is the Mandale Business Park, located on the outskirts of […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
In QuotedData’s morning briefing 9 November 2020 – Tufton Oceanic Assets (SHIP) has agreed to divest one Suezmax Tanker for $19m. The divestment will reduce the company’s fleet from nineteen to eighteen vessels. SHIP says that the realised yield and internal rate of return (IRR) will greatly exceed the targets expressed in its prospectus. This will be the […]
QuotedData’s weekly news show 6 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, James Carthew covered the week’s top stories: Riverstone Energy triggering a discontinuation vote ICG Longbow recommending an orderly realisation of its assets Wellcome Trust bidding […]
Civitas Social Housing has announced its net asset value as at 30 September 2020, made a dividend declaration and has provided a trading and market update. The key highlights from the announcement are as follows: Strong financial and operational performance in line with expectations IFRS NAV per share 108.01p (30 June 2020: 107.92p) Rents received […]
RDI REIT targets full exit from retail assets – RDI REIT says that, for the year ended 31 August 2020, its EPRA NAV fell by 18.3% from 185.5p to 151.5p and its earnings per share almost halved from 13p to 6.9p. The dividend was cut in half – to 5p from 10p. Highlights for the year […]