Prices and Markets

Civitas expands portfolio - Civitas Social Housing PLC has completed the purchase of two specialist supported living and residential care investments for a total consideration of £8.5 million, comprising the freehold interest in 5 properties, with 43 tenancies. The properties are immediately income generating with an initial net yield in line with the Company’s expectations and both were sourced off-market by the investment manager. Investment One Investment one was acquired for a total consideration of £3,900,000, comprising 17 tenancies within 1 property. The property...

Phenomenal year for TR European Growth shareholders - TR European Growth says that, for the year ended 30 June 2017, its net asset value total return was 54.0% compared to a total return from the benchmark index of 35.8%.  The share price total return was 75.5%. They are proposing an increased final dividend of 11.5p and also a 3p special dividend. They say that it is their intention to move towards paying an interim and a final dividend. Ollie Beckett (pictured) and...

Pacific Industrial buys nine logistics assets – Pacific Industrial & Logistics REIT has completed the off-market acquisition of a portfolio of 9 logistics assets for a total consideration of GBP45.5m. The purchase price represents a net initial yield of 7.3%. The deal has been financed from the proceeds of the recent placing, completion of which was announced on 16 August 2017. The remaining proceeds of the placing will be used, together with debt finance where appropriate, to fund acquisitions from...

Jupiter European sticking with Novo Nordisk - Jupiter European Opportunities says that, for the financial year to 31 May 2017, its total return on net assets was 30.5%, which compares with 35.7% for the benchmark. The total return on the shares was 30.6%. There is a 6.5p dividend. The manager says that the underperformance is partly explained by sector weightings - notably the overweight position in Healthcare, a sector which underperformed. The most significant detractor during the period under review was Novo Nordisk. Their US business...

Aberdeen Emerging Markets - Access to a wealth of talent 170928 AEMC Initiation QD Aberdeen Emerging Markets (AEMC) is designed for investors who want exposure to, what the managers are convinced is, the compelling investment opportunity that emerging markets provide. Its managers believe that they have built a portfolio of funds, managed by best-of-breed and, often, hard to access managers, and say that its portfolio is much more diverse than those of competing funds.AEMC’s managers say that its investment proposition...

Syncona backs Autolus fund raise - Syncona has announced that its portfolio company, Autolus, has completed a US$80 million Series C funding round. Autolus is a clinical-stage biopharmaceutical company focused on the development and commercialisation of next-generation engineered CAR-T cell therapies for the treatment of cancer. Syncona was the single largest investor in the $80 million investment round, contributing $29.2 million (GBP21.7 million). Syncona also acquired additional shares worth GBP6.5 million from an existing shareholder.  As part of the round,...

Warehouse REIT buys four industrial estates from Hansteen - Warehouse REIT says that, following its admission to AIM on Wednesday 20 September 2017, the board has announced its first pipeline acquisitions, which follows the initial Tilstone Portfolio purchase for GBP108.85 million. The pipeline assets described in the prospectus included four multi-let industrial estates in England which were at an advanced stage of negotiations.  Contracts have now been exchanged with Hansteen Holdings plc to acquire these assets for a total consideration of...

Hadrian's Wall off to slow start - Hadrian's Wall Secured Investments has published its first set of accounts for the period ended 30 June 2017. Its shares started trading on the London Stock Exchange on 20 June 2016 following an IPO that raised a net £78.4m. In addition, a C share issue on 31 May 2017 raised a further £44.3m. At 30 June 2017, the NAV of an ordinary share was 97.69p. This reflects the initial net proceeds at the IPO, plus interest earned on loans...

Custodian REIT sells three properties - Custodian REIT has announced the disposal of three properties from its portfolio. Colchester The Company has sold an 8,326 sq ft retail unit within a six unit block on High Street, Colchester for GBP4.25 million, GBP0.7 million ahead of the 30 June 2017 valuation.  The unit was recently let to and refurbished by Metro Bank plc on a lease expiring in 2041 and its sale crystallises the value created by agreeing the new lease. Redcar...