€231m refi for TH Real Estate
TH Real Estate has secured a €231m (£168m) loan from ING to refinance its Cityhold Office Partnership vehicle.
The 18-month facility is secured against six core offices in the UK, France and Germany.
Cityhold’s portfolio includes 12-14 New Fetter Lane, EC4 (pictured); One Kingdom Street, W2, Tour Areva in Paris; and Atlantic Haus in Hamburg.
Empiric posts £12.6m profit
Empiric Student Property has announced operating profit of £12.6m in its first results since its June 2014 IPO.
The REIT said the largest gain came from the revaluation of its property, which rose by £11.3m to £251.3m, net of acquisition costs.
TCS posts 11.7% NAV boost
Town Centre Securities posted an 11.7% increase in net asset value per share in the year to 30 June.
The company benefited from a 7.1% valuation increase in its property portfolio and an 8% increase in rental income.
IPD: UK returns 1%
UK total returns were 1% in August, according to the IPD UK Monthly Property Index.
A split of 0.5% capital growth and 0.4% income return made up the monthly return, which averaged 3.5% over the three months to September.
Industrials performed the best, turning in 1.3% for the month, and 4.8% for the quarter.
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