Columbia to restart trading
Columbia Threadneedle will lift the suspension of redemptions in its property fund on 26 September.
The company said that the commercial property market had stabilised and that it believed it had enough liquidity to meet demands for redemptions.
There would be no penalties for those wanting to sell their shares, it said.
Kennedy Wilson in bond issue
Kennedy Wilson Europe this week issued £200m in new bonds to mature on 30 June 2022 along with the £300m in bonds it previously issued.
The new bonds have a yield of 3.57%, and proceeds will be used to repay secured debt.
The issue and settlement date for the new bonds is expected to be 19 September.
NAV rise for Town Centre
Town Centre Securities posted a 3.8% NAV rise in its final results for the year ending 30 June.
The firm reported a 2.2% like-for-like rise in property valuation, although pretax profits fell to £11.9m from £24m last year.
Dividends per share rose by 5.4% to 11p.
M7 appoints Murnaghan
M7 has appointed John Murnaghan, former head of UK asset management, as head of its UK business.
Murnaghan will oversee the development and strategy in the firm’s 10.7m sq ft UK portfolio, which includes more than 200 estates.
He was previously the director of UK real estate at UBS and, before that, a senior asset manager at Land Securities Trillium.
