Fortwell appoints Jennings
Fortwell Capital has appointed Arthur Jennings as its head of development finance. He will oversee the development finance portfolio and underwrite new transactions. Jennings was previously the relationship manager at the Qatar National Bank in London. Nikos Yerolemou has been appointed as senior development finance analyst.
Savills IM launches retail fund
Savills Investment Management has launched a €300m (£255m) retail fund for Italian retail consortium CONAD and insurance firm Gruppo Cattolica Assicurazioni. The fund will target assets with long-term leases in central and northern Italy. A €170m preliminary loan was granted by two Italian banking groups, Banca IMI and Unicredit.
Positive numbers for Tritax
Tritax Big Box has posted a 16.6% portfolio value rise to £1.5bn in the first half of 2016. The 28-asset portfolio is 100% let and posted an income lift to £78.6m, up from £68.4m, over the period. Operating profit jumped by 62% to £25.7m. NAV per share rose by 3.4% to 128.91p.
Lettings boost Derwent stats
Derwent London’s H1 lettings pushed income up by £16.7m pa and pretax profit up by 14.9% to £44.8m. However, the London developer which has 620,000 sq ft of schemes due to complete in 2019, cut
rental growth forecasts from 5%-8% to 1%-5%, citing Brexit fears.
