Record Euro securitisation
Europe is set for its biggest mixed-asset-backed securitisation, raised against a portfolio of equipment, vehicles and real estate leases. The €2.5bn bond issue is being organised by Locat Securitisation Vehicle 2 Srl. The lease contracts to be securitised were originated and will be serviced by Milan-based Locat, a member of the UniCredito Italiano group.
Mall continues upward trend
Capital & Regional’s specialist retail park fund the Junction’s monthly geared growth improved slightly to 1.4%, with yield shift the main driver. The quarterly annualised growth rate has dipped slightly to 25.8%. C&R’s specialist shopping centre fund, the Mall, has shown a strong 2% month-on-month increase, driven by asset management and market-led yield shift. The quarterly annualised number has again improved, to 28.1%.
CLOUT on the upturn
Pillar’s specialist investment and development fund, City of London Unit Trust, showed a valuation uplift of 2.4% in September – the first positive figure since Pillar has been releasing the monthly numbers. Hercules Unit Trust, Pillar’s specialist retail park fund, saw another 2% rise in monthly growth; the three-month rolling growth rate has reached another record level, standing at 25.1%.
Merrill fund tops £1bn
The Jersey-based Merrill Lynch Property Fund has reached over £1bn, and achieved a return of 16.9% over the year to 30 June. Key investments include Riverside Retail Park in Nottingham and Tower 42 in the City of London.
