Real Estate News
This sector includes mortgage companies, property management companies and REITs
This sector includes mortgage companies, property management companies and REITs
Home REIT, which is focused on providing accommodation to the homeless, has acquired its first properties since launching. The group has bought a portfolio of five properties located across the North West, North East and Midlands regions of England. The properties are recently completed and purpose-built to provide high quality accommodation to vulnerable, homeless people […]
Land Securities’ chief executive Mark Allan has set out the company’s future strategic direction that will see it “benefit from long-term macro trends”. Having completed a strategic review of the business since joining in April 2020, Allan said four strategic priorities have been identified. Optimise central London business. Through targeted capital recycling to crystallise significant value already […]
In QuotedData’s morning briefing 19 October 2020: The remaining conditions for UIL’s sale of Ascendant to Algonquin Power & Utilities Corp have been satisfied. UIL will get $37.6m. Ascendant owns 100% of Bermuda Electricity Light Company Limited, Bermuda’s sole electricity provider. JPMorgan Brazil has published a circular in relation to its planned wind up. Its shares will be […]
QuotedData’s weekly news show 16 October 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: Fundraising in the sector including success for Triple Point Energy Efficiency Infrastructure and high hopes for Round Hill […]
Fourth quarter rent collection figures have been coming in thick and fast over the past week or so and overall they show a general improvement on collection rates during the COVID-19 pandemic. There are a few nuggets to come from the announcements so far. The first thing to say is that collection rates have improved […]
Grit Real Estate Income (GR1T) has entered into a binding agreement to reduce its interest in Acacia Estate, a 76 residential units condominium property located in Maputo, Mozambique that is let to the US government. In what is effectively a partial sale to a related party (see below for the nuts and bolts of the […]
In QuotedData’s morning briefing 16 October 2020: We have Grit Real Estate’s partial sale of its Acacia Estate asset in Mozambique and Metage Capital’s Open letter to Mr Bruce Lisman of Associated Capital Group (the outfit that is blocking the wind up of Gabelli Value Plus + Trust).
LondonMetric Property has sold four retail properties from its long income portfolio for £22.2m and bought three convenience service stations for £10.8m. The sales reflect a blended net initial yield of 4.6% and comprise two M&S food stores in Haslemere and Ferndown, a Matalan unit in Leicester and a Boots and Spar let property on the Isle of […]
Hammerson has collected just 41% of rent due for the fourth quarter of 2020, as the retail sector continues to struggle. Broken down into countries, the group has received 38% from its UK portfolio, 33% in Ireland and 51% in France. It said the collection levels for this quarter are ahead of the same point […]
In QuotedData’s morning briefing 15 October 2020 Polar Capital Global Healthcare has agreed a fee reduction with its manager. The base management fee prior to the revision was 0.85% on the lower of the market capitalisation and adjusted net asset value. The revised fee, which is in place with effect from 1 October 2020, is 0.75% […]
In QuotedData’s morning briefing 14 October 2020 – Gresham House Energy Storage (GRID) announced that it has raised approximately £15.0m through the issuance of a mixture of short-term and medium-term secured power bonds. The majority of the proceeds will be used to acquire an operating asset which is in the final stages of due diligence with an agreement […]
Civitas Social Housing has responded to notices served on two of its tenants by the Regulator of Social Housing. Westmoreland Supported Housing and Trinity Housing Association have been issued regulatory notices declaring them in breach of the Rent Standard. Specialist supported housing (which Civitas owns) is exempt from Rent Standard requirements because it has been designed […]
Derwent London, owner and developer of some of the biggest offices in London, has collected 80% of rents for the current quarter (billed on 29 September). This was far higher than the June and March quarter payment days at the equivalent time (70% and 73% respectively). The majority of the outstanding rent comes from the […]
In QuotedData’s morning briefing 13 October 2020 Seneca’s manager changing hands – Seneca Global Income & Growth says Momentum Global Investment Management plans to buy Seneca Investment Managers. The board is happy with this move as the two share a similar investment approach. SDCL Energy Efficiency has launched an £80m placing – it hopes to issue […]
Logistics focused property companies Tritax Big Box REIT and LondonMetric Property both announced positive rent collection figures today. Tritax Big Box REIT said it had received 89% of rent for the fourth quarter, with a further 10% expected by the end of November (through upfront monthly payments). The remaining 1% of rent is on payment […]
Central London office developers and owners Great Portland Estates and Helical have announced rent collection levels for the final quarter of 2020. Great Portland Estates Great Portland Estates, which has developed and owned some of the best located offices in the capital, has received 65% of rent due for this quarter. The majority of the […]
In QuotedData’s morning briefing 12 October 2020: Henderson Alternative Strategies reports that cash accounts for about 74% of the portfolio as at 9 October 2020. The manager expects that the cash level will rise to about 79% by mid-November 2020. Given the high percentage of cash in the portfolio, the current intention is to put forward […]
In QuotedData’s weekly news show 9 October 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: Fundraising in the sector including success for Home REIT and disappointment for Tellworth Investment Company’s plans for the future Jupiter US […]
There has been much debate about the future of the office, most of which has been conjecture and speculation. But finally, there is some actual concrete transactional evidence that points to a brighter future for the central London market than most have portrayed. International investors, always the bellwether for the health of the central London […]
The two listed real estate giants – British Land and Land Securities – both published rent collection figures today that sum up the division in the property market. Both companies own London offices as well as large retail portfolios. On the offices front, both received a large majority of rent billed for the final quarter […]
A plethora of real estate companies have posted encouraging rent collection figures for the current quarter (payment day for which is typically on or around 29 September). Here we have rounded up the announcements. Urban Logistics REIT Urban Logistics REIT announced it had collected 99% of rent due for the quarter to December, with the remaining 1% […]
Home REIT has raised just over £240.5m from its initial public offering (IPO). The company, that will invest in a portfolio of homeless accommodation across the UK, will trade on the premium segment of the main market of the London Stock Exchange on 12 October 2020. It is targeting inflation-protected income and capital returns through the […]
In QuotedData’s morning briefing 8 October 2020: Schroder UK Public Private Trust (formerly Woodford Patient Capital) acknowledges the potential uplift to its NAV to come from the merger of Seedrs and Crowdcube. Like Augmentum, Schroder UK Public Private is an investor in Seedrs. Hg Capital Trust has secured a £200m multicurrency revolving credit facility. this boosts available […]
Sirius Real Estate, the owner and operator of business parks in Germany, has provided a strong trading update for the six months April to September. The highlights includes collecting 97.2% of rents in the period, letting enquiries up 17.4% on the same period in 2019, a 1.1% like-for-like increase in average rent to €6.03 per […]
In QuotedData’s morning briefing 7 October 2020: Investment Company (INV), the £12.9m market cap UK equity income fund, announced annual results to 30 June 2020, delivering a NAV return of (9.5%). With respect to its future, INV’s chairman, I.R. Dighé had this to say: “In light of this volatility and the material uncertainty that surrounds the […]
Care home investor Target Healthcare REIT has reported a net asset value (NAV) total return for the year to 30 June 2020 of 7.0%. The group posted a 0.6% increase in EPRA NAV per share to 108.1p. Its dividend for the year grew 1.5% to 6.68p and it is proposing a further 0.6% increase for […]
PRS REIT has continued its good progress, despite the COVID-19 pandemic disrupting delivery on new private rented homes. The group posted a 12% increase in profit after tax to £16.4m in the year to 30 June 2020. It added 909 new rental homes in the year (2019: 768) to take the portfolio at the year […]
Alternative Income REIT (AIRE) has announced its intention to amend its investment policy following a review of the business by new investment adviser M7 Real Estate. M7’s review concluded that AIRE’s investment policy should change so that it can take advantage of investment opportunities in the market “at an attractive entry yield that are expected […]
In QuotedData’s morning briefing 6 October 2020: Augmentum Fintech says Seedrs (which was 1.2% of its portfolio at the end of March) is planning to merge with Crowdcube. Also, Tide (11.5% of the portfolio) has been awarded another £25m (on top of the £60m it got in February 2019) of the RBS Alternative Remedies Package (the […]
Regional REIT has acquired two offices, in Swansea and Bristol, for £10.2m at a combined net initial yield of 10.1%. The group, which owns a diverse property portfolio in regional UK locations, has bought Waterside Business Park in Swansea and 2410 Aztec West in Bristol. Combined, the assets have a weighted average unexpired lease term (WAULT) to […]