Picton plans £100m fund raise
Picton Property Income plans ?to raise up to £100m through a series of share issues to fund future acquisitions. The first phase of the programme will see the Picton issue up to 59.3m shares this week at 59p a share to raise £35m.
?Oaktree to buy Adelaide NPL
Oaktree Capital Management has been selected as the preferred party to buy Nationwide’s €850m (£698m)non-performing loan portfolio. The investor is understood to be paying around €650m, a 24% discount, for Project Adelaide. Deloitte is advising Nationwide.
?DevSec posts 5.2% NAV rise
Development Securities has posted a 5.2% rise in net asset value to £328.3m, equivalent to 269p a share. Pretax profit increased to £19.5m compared with £800,000 the prior year. The company increased its final dividend by 33.3% to ?3.2p a share.
?Shillaw to leave Aberdeen
Lynda Shillaw is to leave Aberdeen Asset Management in a restructure following its purchase of Scottish Widows Investment Partnership. Shillaw was director of real estate at SWIP prior to its £550m takeover by its rival, which completed in April.
?Redefine reports NAV dip
Redefine International revealed a 1.3% dip in net asset value to 38.14p a share in its maiden set of interims since converting to a REIT. During the period it placed 115.1m shares, raising £54.7m. Basic earnings per share were up 14% to 2.18p.
