Hansteen Holdings announced the completion of the sale of the Industrial Multi Property Trust Portfolio on Tuesday, to an entity owned by Warehouse REIT.
Industrial property investment company Hansteen sent a circular to shareholders over the return of £145m of capital on Tuesday, following its announcement on 5 February that it had agreed to dispose of the Industrial Multi Property Trust portfolio for £116m to an entity owned by Warehouse REIT, with completion expected to occur at the end of March.
Industrial property investor Hansteen said it was getting a £36.96m down payment for Birmingham's Saltley Business Park, as the government prepares to build the HS2 rail link.
Hansteen has accepted a £116m offer for the Industrial Multi Property Trust portfolio from fellow London-listed investor Warehouse REIT less than a year after buying it for less than £28m.
UK and continental Europe-focussed industrial property investor Hansteen Holdings announced the sale of Carvers Trading Estate in Ringwood, north east of Bournemouth on Wednesday for £7.06m, reflecting a net initial yield of 4.93% and a capital value per square foot of £137.
Industrial property investor Hansteen reported a 186% jump in first-half profit on Wednesday following the sale of its German and Dutch portfolio.
Hansteen was cashed up to the tune of an extra 750m on Monday, confirming that the proposed sale of its German and Dutch portfolios to entities owned by funds advised by affiliates of The Blackstone Group and M7 Real Estate had now completed.
Hansteen's cash offer for Industrial Multi Property Trust was declared unconditional in all respects on Thursday morning, as the company confirmed it had received valid acceptances for 29.73% of IMPT's issued share capital, and acquired and settled 21.83% of the trust's issued shares.
Investor in UK and continental European industrial property Hansteen announced its full year results for the year to 31 December on Monday, with a total annual return to shareholders of 23.1p or 20.8%, representing EPRA net asset value growth of 17.7p plus dividends paid of 5.35p.
Hansteen said on Friday it had agreed a recommended all cash offer to buy Industrial Multi Property Trust (IMPT) for £25.2m.
UK and continental Europe property investment company Hansteen Holdings announced a portfolio update for the period from 1 July to 30 November on Monday.
JP Morgan Cazenove has initiated coverage of property investor Hansteen with a 'neutral' rating and target price of 125p.
Hansteen Holdings posted a drop in earnings in the first half on Tuesday, blaming tough comparatives in the same period a year earlier.
Investment company Hansteen Holdings has bought the further 86.5m units in Ashtenne Industrial Fund (AIF) that it did not already own for £39.5m and refinanced its UK and France portfolio.
Property investment company Hansteen Holdings has bought 66.7% of the share capital of Ashtenne Industrial Fund (General Partner) from Norwich Union for £120,000 in cash.
UK and continental Europe property investment company Hansteen Holdings announced on Wednesday that it has refinanced two loans secured against its Netherlands light industrial property portfolio, with a single loan totalling 145m.
FTSE 250 property investment company Hansteen Holdings has acquired a further 12.4m units in the Ashtenne Industrial Fund from Nortrust Nominees Limited for £5.6m in cash.
Deutsche Bank upgraded Next to 'buy' from 'hold' but cut the price target to 6,850p from 7,200p following the company's full year results last week.
The outlook for industrial property investor Hansteen in 2016 is uncertain, according to Numis.
Homebuilders were under the cosh at the end of the week, dragged lower by a negative reaction to the latest trading statement out of Berkeley Group.