CAPREIT powers IRES
Irish residential REIT IRES has agreed a pipeline facility with 20.8% shareholder CAPREIT. CAPREIT is making as much as €150m (£119m) available for further acquisitions after IRES deployed all capital raised through its April initial public offer.
Resi works for Quintain
Residential drove performance at Quintain Estates & Development in the six months ended 30 September, with net asset value rising to 117p, up from 106p a year earlier. Turnover almost quadrupled from £10.8m to £38.8m, with pretax profit up by 6.5% to £3.3m.
Naish joins Cordea Savills
Former Scottish Widows Investment Partnership boss Malcolm Naish has joined Cordea Savills as chairman of its £735m Charities Property Fund advisory committee. He replaces Ian Flanagan, who has retired.
Telford raises debt level
House builder Telford Homes is upping its level of debt as it increases its building and acquisition activities. Gross borrowings over the six months to 30 September rose from £28.1m to £52.2m. Telford said it was comfortable with the rise given expected future revenues of £550m based on forward sales.
Bank urged to raise rates
The Organisation for Economic Co-Operation and Development has urged the Bank of England to raise interest rates next year to cool the economy. It expects a rise by mid-2015.
