IPD: Q3 delivers 3.3% boost
UK commercial property values rose by 3.3% in Q2 reflecting the highest quarterly growth of the current cycle. According to the IPD the strong value growth contributed to a 4.7% total return for the quarter.
SEGRO NAV up 6.7%
Industrial specialist SEGRO has posted a 6.7% rise in EPRA NAV to 333p a share for the six months to 30 June. Like-for-like pretax profit fell from £69m to £66.7m as turnover dropped to £137.6m from £168.4m.
Pricoa debuts in Germany
Pricoa Mortgage Capital has provided a €36m (£28.5m) loan for Hines Global REIT’s acquisition of a logistics property in Bavaria, Germany. The lender’s first German facility is secured by a 608,000 sq ft logistics property in Forchheim near Nuremberg.
Bayside leads €495m NPL
HIG Capital’s real estate division, Bayside Capital, has led a three-strong consortium’s purchase of a €495m (£391m) Romanian loan portfolio. It teamed up with private equity firm AnaCap Financial Partners and Deutsche Bank to buy around 500 residential and commercial loans.
Dragonfly lending soars
UK short and medium-term lender Dragonfly Property Finance has completed more than £1bn of lending since its launch in 2009. The majority of the circa 1,500 loans are residential but expects a larger share of its £2bn 2015 target to be commercial.
