Why kowtow to the US? Invesco Asia makes statement on Order 13959 Today, Invesco Asia made the following announcement: “The board is aware of US Executive Order 13959 (“EO 13959”) relating to Communist Chinese Military Companies (“CCMCs”) and associated guidance issued by the US Treasury Department’s Office of Foreign Assets Control (“OFAC”), in particular relating […]
LondonMetric Property buys two urban logistics warehouses – LondonMetric Property has bought two urban logistics warehouses in Manchester and Birmingham for £39m, reflecting a blended yield on cost of 4.25%. The newly built warehouses are let for 15 years at an average rent of £6.60 psf and benefit from RPI linked rent reviews. In Manchester, […]
In QuotedData’s morning briefing 12 January 2021: UK Mortgages Limited is launching Hops Hill No.1, a securitisation of the portfolio of first ranking, buy-to-let mortgage loans originated by Keystone Property Finance. Keystone have been originating loans for UKML for the last two years with warehouse financing provided by NAB. The portfolio size reached almost £340m by 31st […]
Shift to premium boosts JPMorgan Asia after NAV underperforms JPMorgan Asia Growth & Income has published results for the year ended 30th September 2020. Over the year the NAV return was 9.3% compared with a return of 12.3% for the MSCI All Countries Asia ex Japan Index. .Fortunately, the return to shareholders was 22.3% as the discount moved […]
Schroder UK Public Private gets uplift from Kymab deal – Schroder UK Public Private Trust says that portfolio company Kymab, a clinical-stage biopharmaceutical company developing fully human monoclonal antibodies with a focus on immune-mediated diseases and immuno-oncology therapeutics, has announced its acquisition by Sanofi, a global biopharmaceutical company. Sanofi will acquire Kymab for an upfront payment […]
Student accommodation specialist Unite has announced a rent discount for students following the latest lockdown in the UK. It said its student tenants will be able to apply for a discount of 50% of their rent for a total of four weeks and, in addition, will be given a four-week complimentary extension of their tenancy agreement […]
British Land has provided an update on operational performance in which rent collection was at 71% for the first quarter of 2021. The group said of the £86m billed (which doesn’t include Scottish assets that are billed in February and quarterly payments for February and March), 24% was outstanding – the majority of which was […]
Octopus Renewables Infrastructure (ORIT) has announced the publication of a circular to shareholders which includes details of proposed changes to its investment policy (accessible in its entirety by clicking here). ORIT noted the following: “The proposed changes broadly fall into three categories: (i) to allow limited investment, of up to 5% of gross asset value, in […]
Gresham House Energy Storage (GRID) has completed the acquisition of a 25MW battery project located in North Shields, Tyne and Wear (Tynemouth). Tynemouth follows GRID’s recent acquisitions of the 50MW Wickham and 50MW Thurcroft projects and was acquired from Enel Global Thermal Generation S.R.L. Tynemouth is a battery-only site with circa 25MW export/import capacity and is connected to the distribution network. […]
Bluefield Solar (BSIF) has bought Bradenstoke Solar Park Limited, a 213-acre operational 70-megawatt peak (MWp) ground-mounted solar photovoltaic plant The investment is at a cost of £89m, with BSIF receiving cash flows from the plant from 1 April 2020. ‘Accredited under the Renewable Obligation Certificate regime with a tariff of 1.4 ROCs’ Bradenstoke Solar Park is located on a […]
In QuotedData’s morning briefing 11 January 2021 – Tufton Oceanic Assets (SHIP) announced the acquisition of a stainless steel Chemical Tanker for $15.2m, taking its fleet size to twenty vessels. SHIP says it will be employed in a leading chemical tanker pool. Ground Rents Income Fund (GRIO) has responded to leasehold reform proposals that would reduce […]
Forced closures, withheld rent and suspended dividends, the real estate sector had a tumultuous 2020. There were, however, some property sectors and companies that performed well during the year. So, what can be gleaned from looking at the performance of individual property companies during an unprecedented year of disruption, especially as we enter a third […]
The riot in the Capitol Building may be dominating headlines but hopefully the orange cloud over Washington may soon dissipate. Does that mean Nothin’ but blue skies from now on…? For investors, one of the key events if 2021 to date may be the Democrat’s wins in the Georgia senate races. Joe Biden will now have […]
Secure Income REIT has announced it has collected 98.6% of rents due for the first quarter of 2021. The company said this included rent due from Alton Towers owner Merlin Entertainments, following the end of their six month rent deferral period, and the new contractual rents agreed with Travelodge. The deferred rent from Merlin for […]
In QuotedData’s morning briefing 8 January 2021: The Schiehallion Fund has announced that it is considering an issue of C shares to institutional and professional investors at a price of US$1.00 per C share. The company says that the size of the issue is still to be determined, but it does not currently expect that the […]
Oakley Capital’s Daisy Group sells Digital Wholesale Solutions – Oakley Capital Investments says its Oakley Capital Fund II portfolio company, Daisy Group, has reached an agreement to sell its stake in its Digital Wholesale Solutions division. The transaction is subject to regulatory approval. The trust’s share of proceeds will be about £22m, which represents about a […]
RTW makes new investment in Biomea Fusion – RTW Venture Fund, alongside other investment vehicles of RTW Investments, LP – its investment manager – and other investment firms, has participated in a $56m Series A financing round for Biomea Fusion. Biomea is a US-based privately held precision oncology company dedicated to developing innovative medicines targeting specific […]
Riverstone Credit updates on deals – Riverstone Credit Opportunities Income has originated one new investment and realised some or all of a number of existing investments. New Deal Activity § Project Mirror – RCOI participated in a $20.0 million first lien delayed-draw term loan to a community solar development company. Led by operating partners of a […]
In QuotedData’s morning briefing 7 January 2021, as the Democrats win control of the Senate and the US Capitol building is invaded, the news in the investment companies industry is a bit more mundane: Hipgnosis Songs has entered into an agreement with a syndicated group of lenders, with JPMorgan Chase Bank as lead arranger, to increase its […]
Hipgnosis Songs (SONG) has acquired 50% of Neil Young’s worldwide copyright and income interests in his entire song catalogue comprising 1,180 songs. ‘Neil Young rose to prominence in the ’60s and ’70s and is widely considered one of the most important and influential songwriters of all time’ Merck Mercuriadis, SONG’s founder, said: “I bought my first […]
In QuotedData’s morning briefing 6 January 2021 – Middlefield Canadian Income (MCT) noted that one of its recently acquired holdings, Brookfield Property Partners, is to be taken private in a US$5.9bn deal for the remaining 40% stake not owned by Brookfield Asset Management and a group of investors Hg Capital Trust (HGT) is to invest around £15.7m in […]
Hipgnosis now owns 100% of Fleetwood Mac’s Lindsey Buckingham’s catalogue – Hipgnosis Songs Fund has acquired a catalogue from Lindsey Buckingham, best known as the lead guitarist and vocalist of Fleetwood Mac. Hipgnosis had bought a 25% share in this catalogue on 30 September 2020 and now owns 100% of Lindsey Buckingham’s music publishing rights, including […]
Tufton adds another ship to portfolio as core management team ups its stake in the manager. Tufton Oceanic Assets has acquired a containership for $6.75m. This takes its fleet to 19 vessels. The vessel has a fixed rate time charter of at least three years to a major container line which is investment grade. It is […]
In QuotedData’s morning briefing 5 January 2021: Apax Global Alpha says that Apax IX (one of the underlying funds that make up its portfolio) is selling a minority stake in Paycor. The transaction values the trust’s investment in Paycor at approximately €51m. This represents an uplift of about 30% and adds about €11.8m (€0.02 per share) to […]
Sirius Real Estate, the owner and operator of business parks in Germany, has completed the acquisition of three assets totalling €26m, signalling a return to acquisitive growth for the company after holding back whilst assessing the impact of COVID-19. The acquisitions are in Norderstedt, Hamburg for €9.1m, Nuremberg for €13.7m and Mannheim for €3.2m. They generate […]
Foresight Solar (FSFL) announces the acquisition of a portfolio of three greenfield solar assets in Spain. The 98.5 MW portfolio comprises three subsidy-free greenfield assets situated in the Andalusia region, Spain. FSFL says that total expected transaction costs are expected to come to €72m once construction is completed and include the acquisition of development rights for […]
Hipgnosis (SONG) has announced the acquisition of the music catalogue of Jimmy Iovine, described as a legendary and highly influential record producer in the 70’s and 80’s and one of the most important record executives and music entrepreneurs of all time. Hipgnosis has acquired 100% of Jimmy Iovine’s catalogue of worldwide producer royalties comprising 259 […]
In QuotedData’s morning briefing 4 January 2021 – SDCL Energy Efficiency Income (SEIT) announced the acquisition of an additional 15% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar LLC for a cash consideration of approximately $36m. SEIT acquired an initial 50% interest in Primary Energy in […]
US Solar (USF) has executed binding agreements to acquire up to a 50% interest in a 200MWDC operating solar plant located in the Imperial Valley of Southern California, Mount Signal 2, for a total price of between $44m and $46m. The transaction is structured in two tranches. Tranche one comprises an immediate acquisition of an initial 25% interest […]
Aquila European Renewables Income (AERI) announced that its fully owned subsidiary, Tesseract Holdings Limited, has reached an agreement (under a share sale and purchase agreement) to acquire 89% of Desfina, an operational wind farm in Greece for an undisclosed amount. Upon completion of the acquisitions of Albeniz (as announced on 23 December) and Desfina, AERI […]
