Reinhard Winiwarter’s Post

Here’s your daily round-up of the latest news and views from EG. 🏭 Industrial and logistics investor SEGRO plc says asset values “appear to be at an inflection point in the UK and bottoming out in continental Europe” as it posts a solid set of H1 numbers. Chief executive David Sleath hailed a rising rent roll and a strong pipeline of pre-lets, saying the company is “well-placed for further growth through a combination of active asset management of our irreplaceable, prime portfolio of existing assets and our profitable development programme”. 📈 At CBRE, chief executive Bob Sulentic is speaking Sleath’s language, telling analysts after the agency’s own results that its advisory business is “on the cusp of an inflection point” as real estate markets recover. The agency has boosted its guidance for full-year earnings per share to a range of $4.70 to $4.90, up from $4.25 to $4.65. 🔬 The The Crown Estate, Oxford Science Enterprises and Pioneer Group have signed an exclusive long-term life sciences mandate. Under the deal, all future developments acquired by OSE will be delivered through Pioneer and financed by the Crown Estate. The move is expected to build on the success of the trio’s collaboration earlier this year, which saw the Crown Estate committing £125m to help OSE and Pioneer turn a former Debenhams in Oxford into labs. 📢 This week’s big interview is with Richard Shepherd-Cross, managing director of Custodian Capital Limited. Earlier this year, a planned merger of Custodian Property Income REIT plc and abrdn Property Income Trust was scuppered by the latter’s shareholders. Shepherd-Cross reflects on why the deal made sense, why it didn’t happen and what it says about the state of the UK’s REIT market. 🏘 The residential sector has narrowly overtaken all other use types to become the highest value asset class for investments during the first half of this year, according to exclusive figures from EG Radius. The total value of residential investment sales in H1 was £2.77bn across just 94 deals. This compares with £2.76bn spent on office investments across 582 deals and £2.75bn on industrial investments across 621 deals, and gives the residential sector a 23.8% share of the investment market by value. 🗞 There’s also news on John Lewis & Partners’s BTR sign-off in Bromley, a £170m refinancing at Supermarket Income REIT, and EG’s latest Dealmaker of the Month podcast. All this and much more here. https://lnkd.in/eQ6ZjrYJ

In historical comparison, 2024 may be another relatively quiet year for transactions, says Steffen Hofmann, Managing Partner at ambas Real Estate GmbH. However, the prospect of more moderate interest rates means that a number of players are taking a much more positive view of the future. It will also be a year of clarity: Motivated sellers will place highly interesting properties on the market and apply a deal-oriented negotiation approach. For investors, the entry price is not the only thing that matters – the ability to invest in sustainable properties does as well. Julia Pfaff Kerstin Wegert Klaus Mennickheim Kathrin Andres Benjamin Bösser Tobias Lötzsch Benedikt Korff Patrick Geis #retail #placemaking #mixeduse #realestate #interview

📊 Impressive Q1 for REA Group! 📈 REA Group (ASX: REA), Australia’s top property classifieds business, has posted a strong start to the year with first-quarter revenue up 21%, hitting $413 million, and EBITDA growing 23% to $243 million. This growth highlights REA Group’s success in capitalizing on Australia’s active real estate market through property listings and digital advertising. At the time of writing, shares were holding steady at $233.60. 💼💰 As demand rises, REA continues to strengthen its market position, though analysts caution that upcoming quarters may bring challenges from economic and interest rate changes. Exciting growth and future developments to watch! 🔍🏠 https://lnkd.in/g_dx4P5J #REAGroup #RealEstateMarket #FinancialResults #ASX

As the end of Q1 of 2024 rapidly approaches, we’ve seen and heard a lot of discussions relating to the state of the industry in terms of transactions. Just over a month ago at the ALIS conference, some of the big topics included discussions on the outlook of interest rates, transactions, and capital deployment and growth. What can we expect to see for the coming year for investments, how are the current interest rates affecting hotel transactions, have the PIP renovations reached the end of their delayed schedules, and can we expect to see a ramp-up of transaction activity in the coming months? Let’s take a closer look. #hotelinvestments #transactions #interestrate #investment #hospitality

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the week ahead. Andrew Jones' LondonMetric Property PLC (LMP) has offloaded almost £58m of LXi assets as it continues to exit assets and sectors it believes are "incompatible with the listed REIT sector". The group sold a total of 24 assets, with 22 coming from the LXi business it acquired earlier this year. Among the properties was a portfolio of 12 assisted living assets, which LondonMetric said marked its exit from the sector. Since the end of March this year, the group said it had sold more than £200m of properties at a blended yield of 7.6%. While LondonMetric offloads Royal London Asset Management has bought a 50% stake in the 1.3m sq ft centre:mk shopping centre in Milton Keynes from AustralianSuper for a rumoured £150m and Supermarket Income REIT has splashed almost £50m buying an omnichannel Sainsbury's in Yorkshire. Supermarket REIT said the deal was part of its strategy to grow its earnings through acquisitions and came amid a period of "significant strategic and operational development" for the company. Andrew Coombs at Sirius Real Estate is also getting in the buying mood after the German and UK business park investor recorded double digit increases in both revenues and profits. He said the business had "significant sufficient firepower" for acquisitions and had a "number of levers at our disposal that can be pulled to unlock value". And ICYMI on Friday afternoon, Landsec boss Mark Allan is hoping to unlock value from a growing residential portfolio. The firm is considering a move into operational residential as it secures a pipeline of more than 6,000 homes. Allan told EG: “We’ve had to be patient to get to where we are. We’ll make the decision on how we deliver them going forward in the next financial year, but I would like to think that we will have a meaningful operational component and investment in residential in in five years’ time.” In South London, a trio of developers are seeking to turn a collection of 1980s built industrial units into a 320-bed co-living scheme. The project, which goes before councillors at Lambeth this Tuesday, has been recommended for approval. And for anyone looking for a positive in the recent re-election of Trump as President of the United States, turn your eyes to Ireland. Savills Ireland has seen a massive uptick in searches for properties in the country from American investors. Democratic American investors that is. Could Trump be the fillip Ireland's investment market needs?  If you need to stay one step ahead of the competition this week, don't forget that EG has you covered with a look ahead to what to expect in UK real estate with the EG news agenda. All that and so much more in the EG MORNING NEWS ⬇️ ⬇️ ⬇️ https://lnkd.in/ekap6e9k

Insightful views on the prestige market, the country as a whole, and where growth is occurring. Ask me how Westpac Private can help with your wealth creation strategy. #privatebanking #melbourne #lending #investments

A great report here from Westpac Private Bank and CoreLogic Australia showcasing the trends across the prestige housing market. Some big numbers, with the number of $5m+ home sales more than doubling since 2019. A few key themes: • Sales of $5m+ properties rose by 159 per cent over the 2019-2023 period. $10m+ and $20m+ sales increased by 198 per cent and 100 per cent respectively for the period. • Almost two thirds (66.5 per cent) of Australia’s $5m+ property sales in 2023 were in Sydney, with the Woollahra Local Government Area contributing 22 per cent of these sales. • Melbourne accounted for the second largest share of $5m+ property sales (14.4 per cent), but smaller markets are making ground with Brisbane achieving its biggest slice of the high-end market in a decade with 3.8 per cent of sales. • Queensland’s Noosaville on the Sunshine Coast was the top regional suburb for $5m+ sales, followed by Hope Island and Surfers Paradise on the Gold Coast. • Waterfront remains the number one characteristic of prestige property in Sydney, with 23 of the top 30 suburbs by transaction volume located by the water.

How is Australia's high-end real estate market performing?   Findings from our inaugural Prestige Property Report created in partnership with Westpac Private Bank reveals homes selling for $5 million+ have more than doubled since 2019. Regional markets are also growing in popularity post-COVID.   You can explore some of the detailed trends in the full report below.   #CoreLogicAU #PrestigePropertyReport #Property

Our Q3 2024 #ResidentialPropertyTrendsReport is now available 🏡 Download our report to explore the latest property transaction landscape in England, Scotland and Wales, and gain valuable insights into key market dynamics > https://hubs.la/Q02TXrlb0 #LandmarkInformationGroup

🏢 #REIT Headlines - April 11, 2024 📈 Rating Updates: 📒 JPM initiates EastGroup Properties Inc with a Neutral rating setting a price target of $190. 📒 Alliance Global Partners initiates Alpine Income Property Trust with a Buy rating setting a $19 price target 📉 Wedbush downgrades AIR Communities to Neutral from Outperform and raises the price target by $4 to $39. 📉 Truist Securities downgrades AIR Communities to Hold from Buy and increases its price target by $2 to $39. 📉 Wolfe Research downgrades AIR Communities to Peer Perform from Outperform. 📉 Morningstar downgrades Extra Space Storage to Hold from Buy maintaining a $160 price target. 📉 JMP downgrades CLIPPER REALTY INC to Market Perform from Market Outperform. CCI Executive Appointments + Proxy Filing: 👨 Crown Castle appoints Steven J. Moskowitz as President and Chief Executive Officer, effective April 11, 2024 while Anthony J. Melone, Interim President and CEO,, will transition to the role of Special Advisor to the President and CEO until May 31, 2024, and remain a board member. ⚖️ Filed definitive proxy materials with the SEC in connection with its upcoming 2024 Annual Meeting of Shareholders scheduled for May 22, 2024 ⚖️ Urges shareholders to vote the WHITE proxy card for its 13 director nominees Financial Transactions: 💸 Empire State Realty Trust issues $225 million aggregate principal amount of green senior unsecured notes in a private placement transaction comprised of 1)$155 million of 7.20% notes due in June 2029; 2) $45 million of 7.32% notes due in June 2031; and 3) $25 million of 7.41% notes due in June 2034 with proceeds to be used to repay existing indebtedness and for general corporate purposes. Hotel Transactions: 🏨 Ashford Hospitality Trust (AHT) closes on the sale of the 390-room Hilton Boston Back Bay in Boston, MA for $171 million ($438,000/key) with proceeds to be used for debt reduction 🏨 Sunstone Hotel Investors, Inc. to acquire the fee-simple interest in the 630-room Hyatt Regency San Antonio Riverwalk for a gross purchase price of $230 million (~$352K/key). Corporate Sustainability: 🌿Vornado Realty Trust releases its 2023 Sustainability Report highlighting industry-leading accomplishments and key metrics on sustainability priorities.