Secure Income secures refi
Nick Leslau’s Secure Income REIT has clinched a £587m refinance, amounting to around two-thirds of its debt, with Bank of Scotland. The facilities with Blackstone Mortgage Trust, Rothesday
Life and Legal & General reduced its weighted average cost of debt from 6.8% to 5.7%.
Profit boost for Barratt
Barratt Developments has reported a 44.8% uplift in pretax profit before tax to £565.5m in its final results and a 40.8% rise in profit from operations to £576.8m. The house builder reported revenues up by 19.1% to
£3.8bn during the year to 30 June, and a 10.8% increase in completions to 16,447.
Dalata plans share issue
Dalata Hotel Group is to undertake a share placing to raise around €160m (£116.5m) to finance further hotel acquisitions, development and new-build opportunities. The Dublin-listed company plans to issue more than 42m shares at a price of €3.75 per share.
Partners launch spezialfond
BNP Paribas Real Estate Investment Management has teamed up with Cording Real Estate Group to launch a real estate value-add “spezialfond”. The Real Value Fund has a target equity volume of €150m (£109m), and has secured one-third of the target volume through institutional investors.
