St Modwen launches bonds
Regeneration firm St Modwen launched a £100m convertible bond with a coupon of 2.9% on 26 February. The bond matures in 2019 and proceeds will refinance existing bank debt. The initial conversion price is 529p per share.
CBRE GI appoints Clarke
CBRE Global Investors has appointed Michael Clarke as head of investor services for EMEA. He replaces Giles King, who left the business last year to co-found Westmount Real Estate. Clarke, who worked at Schroders for 18 years, will join the EMEA management board.
SEGRO posts 4.1% value rise
Rising investor demand for industrial and logistics assets helped the value of SEGRO’s UK and European portfolio to rise by 4.1% to £4.1bn last year. The FTSE-250 company saw NAV per share rise by 6.1% to 312p over the 2013 calendar year.
Westfield eyes public listing
Australian shopping centre giant Westfield may list on the London or New York stock exchange after the proposed restructure of its global business. The firm posted profits of A$1.6bn (£834m) and funds from operations of A$1.44bn in the year to 31 December as it prepared to split its Australia/NZ and international businesses.
Safestore occupancy up
Occupancy at self-storage REIT Safestore for Q1 2014 totalled 3.3m sq ft (64.2%), compared with 3.2m sq ft (61.8%) in Q1 2013. Revenue dipped to £23.8m from £23.9m quarter-on-quarter.
bridget.oconnell@estatesgazette.com
