United Kingdom

Commercial REITs

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Great Portland says to sell London property Rathbone Square

Friday, 10 Feb 2017

Great Portland Estates Plc : Gpe sells rathbone square, w1 for £435 million and proposes to return profit of £110 million to shareholders . Sale to rathbone place jersey limited, an entity owned by westinvest gesellschaft für investmentfonds mbh and deka immobilien investment gmbh . Sale is expected to crystallise a whole-life capital return for gpe from entire development project of approximately £110.0 million . £110.0 million is proposed to be returned to shareholders by way of a special dividend . Following receipt of majority of sales proceeds, whole life surplus of approximately £110.0 million is proposed to be returned to shareholders . It is anticipated that this will be effected by way of a special dividend, which would be accompanied by a share consolidation .Gpe was advised on sale and proposed capital return by CBRE, GM Real Estate, Nabarro, BofA Merrill lynch, J.P. Morgan Cazenove and Lazard.

Grivalia Properties gets 50 mln euro loan by the World Bank

Thursday, 9 Feb 2017

Grivalia Properties REIC : Says IFC, member of the World Bank Group, is extending a 50 million euro ($53.40 million) long-term loan to the company . Says loan to enhance business infrastructure and boost energy efficiency in the commercial property sector . Says loan will be used to make refurbishments and energy efficiency improvements in its Greek facilities . Says will introduce IFC's EDGE certificate into Greece .Says buildings with EDGE certification need to consume 20 percent less energy than the local limit.

Dream Office REIT qtrly FFO per share $0.65

Wednesday, 10 Aug 2016

Dream Office Real Estate Investment Trust : "decided to significantly write-down our alberta assets in q2 of 2016" . "now expect that economic uncertainty and weakness in alberta office sector may be prolonged" . Qtrly ffo per share $0.65 . Q2 FFO per share view c$0.68 -- Thomson Reuters I/B/E/S .Trust recorded fair value loss of $675.3 million and $748.4 million respectively, for three, six months ended june 30.

Kimco Announces Key Strategic Initiatives To Further Strengthen The Company's Long-Term Financial Outlook

Wednesday, 27 Jul 2016

Kimco Realty Corp Kimco Announces Key Strategic Initiatives To Further Strengthen The Company's Long-Term Financial Outlook : Says plan includes prepaying $428 million of secured and unsecured U.S. Debt due in 2017 . As a result of planned transactions, Kimco expects to realize recurring annualized cost savings of approximately $29 million . Time charges against net income available to common stockholders of about $114 million . One-Time charges are expected to reduce net income and FFO by about $0.27/diluted share,$0.21/diluted share, respectively, in Q3 2016 . Term financial outlook . Says implementation of several strategic initiatives to enhance company's capital structure . Plan includes redeeming two outstanding series of Canadian-dollar-denominated notes totaling cad $350 million due in 2018 and 2020 . Says plan includes merging company's primary taxable REIT subsidiary into Kimco . There will be no impact to ffo as adjusted as a result of these one-time charges . Says plans to merge Kimco Realty Services, Inc. into Kimco . Company expects to incur a prepayment charge of approximately $22 million in Q3 of 2016 . Time non-cash charge against net income and FFO of $66 million and $41 million, respectively, in Q3 of 2016.


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