REIT plans €150m facility
Green REIT is to set up a revolving credit facility with an initial limit of €150m (£120m). Reporting on the period 1 July to 17 November, the REIT
said its portfolio was now valued at £648m.
British Land NAV up 11.8%
British Land has posted an 11.8% rise in net asset value to 769p per share. In results covering the half year to 30 September, underlying pretax profit rose to £155m from £146m, while the value of the property portfolio increased by 7.2% to £12.8bn.
Picton profit jumps threefold
Picton Property’s half-year results show profit after tax up by more than threefold, to £31.8m, compared with the same period last year. The company’s NAV per share rose by 10.5% to 56.4p.
McKay celebrates rising value
McKay Securities’ portfolio has increased in value by 26.4% since March and is currently valued at £321.7m, according to its interim results for the six months to 30 September. NAV per share was up 5.7% to 240p.
Minister makes PRS plea
Housing minister Brandon Lewis has called for more institutional investment in the private rented sector. Speaking at the London Property Summit this week, Lewis said London needed more investment from institutions into the housing market
to help combat the city’s housing crisis.
