Latest Finance News
Court of Appeal delivers blow to Adler’s €6bn debt restructuring plan
Lower court’s approval for restructuring to save German property group from insolvency is overruled
Mayors in talks to revive HS2’s northern leg with private investment
Andy Burnham and Andy Street hatch plans to revive West Midlands to Manchester branch.
Scape Living secures £105m loan for Hammersmith student scheme
NatWest and Virgin Money to fund west London development.
Crest Nicholson CEO to quit after posting 70% slump in annual profit
Crest Nicholson chief executive Peter Truscott is quitting the company after the housebuilding giant revealed a 70% slump in annual profit.
I-RES repeats plea to investors to reject activist investor proposals
The board of Irish Residential Properties REIT has urged investors to vote against all resolutions proposed by Vision Capital, a 5% shareholder in the company.
Abrdn reveals £150m cost-cutting plans
Investment giant abrdn has confirmed it is set to shed around 500 jobs as it seeks to slash annual costs and make its business more profitable.
Cross-party MPs criticise DLUHC’s ‘thin gruel’ levelling up progress
MPs slam rate at which government has allocated funds
Northern Ireland Investment Fund provides £28m loan on Belfast hotel
JMK Group lands development finance for Titanic Quarter hotel scheme.
GPE reports ERV uplift, but remains cautious
Investor reports leasing in Q4 2023 was 10.4% ahead of estimated rental values.
Watkin Jones swings to full-year loss as it eyes 2024 recovery
The student accommodation and build-to-rent developer went into the red during the 12 months to the end of last September.
Henry Boot grows landbank amid ‘continued demand’ for strategic sites
The developer’s total land portfolio has increased to 100,972 plots.
Feldberg Capital secures £50m at second close on ReForm fund
The total fundraise for ReForm is now £100m since the impact fund’s launch in October 2023.
JR Capital and Chancerygate fund buys trio of industrial assets
JR Capital and Chancerygate’s multi-let urban logistics investment fund has acquired a portfolio of three South East industrial assets for £14m from GMS Estates.
Henderson Park appoints Lee as MD and general counsel
Private real estate investment fund manager Henderson Park has appointed Jones Day partner Bob Lee as a managing director and global general counsel.
Warehouse REIT boasts of ‘strong quarter’
Warehouse REIT has told investors that it enjoyed “a strong quarter of leasing activity” during the three months to 31 December.
‘Critical’ financial distress soared in Q4 2023, says Begbies Traynor
Some 6,228 real estate and property services firms were in critical financial distress at the end of last year.
I-RES and Vision Capital clash again ahead of EGM
I-RES brands activist shareholder Vision Capital’s press statement ”misleading”.
Scape Living secures £105m loan for Hammersmith student scheme
NatWest and Virgin Money to fund west London development.
There’s no profit in standing still
As you may have noticed, during the holiday break we’ve had the decorators in to update our print magazine’s look and feel. I hope you like the result, which is part of Property Week’s never-ending effort to improve the service we provide.
Hightown secures £50m in funding from Aviva
Aviva Investors has provided £50m of funding to Hightown Housing Association, which owns and manages more than 8,700 homes and care and supported housing projects across Hertfordshire, Buckinghamshire, and Berkshire.
Midland Heart secures £200m of lending to modernise affordable homes portfolio
Midland Heart has secured a £200m funding deal to support its efforts to modernise its 35,000 affordable home portfolio.
Schroder European REIT agrees early refinancing on Paris scheme
Schroder European REIT has completed the early refinancing of its lending on its St Cloud office development in Paris.
Asset quality key as property is tipped for subdued 2024 growth
IPF leads predictions of modest rental growth and stabilising capital values in 2024.
Debt crisis looms for 2024 as firms face ‘refinancing gap’
Tough year ahead as new valuations are obtained and hedging products expire.
Less default distress than expected in 2023
The last 12 months were characterised by uncertainty but lenders’ willingness to accept short-term solutions helped borrowers.
Self-storage racks up strong results and investor interest
Solid Big Yellow and Lok’nStore results reflect sector’s resilience and countercyclical qualities for investors.
Rise of DC pension funds poses property an investment problem
Pension industry urges chancellor to change rules curbing DC funds’ investment in illiquid assets like property.
Stock Market
Bridgewater Place developer latest to delist from International Property Securities Exchange
BWP REIT, owner of the Bridgewater Place scheme in Leeds, has become the latest group to confirm its delisting from the failed International Property Securities Exchange (IPSX).
Property Funds
Hines secures €80m commitment from local government pension fund
Hines has added the largest UK Local Government Pension Scheme (LGPS) pool into its latest closed-end European value-add fund, Hines European Real Estate Partners III (HEREP III).
PW Share Index
Review the latest share prices of the FTSE-listed property investment companies using data provided by the European Public Real Estate Association.
