Residential Secure Acquires 85 New Build Homes For GBP29 Million
Thu, 24th Dec 2020 13:35
(Alliance News) - Residential Secure Income PLC on Thursday said it has acquired 85 new build homes for GBP29 million from Brick By Brick, a development company set up by Croydon Council.
The real estate investment trust stated the portfolio of newly-completed homes which will be delivered as shared ownership properties comprises one, two and three-bedroom apartments in new developments in Upper Norwood, Thornton Heath and South Croydon in south London.
The transaction will be funded through the GBP300 million 45-year debt facility inked in July.
Residential Secure highlighted the deal brings its total shared ownership portfolio to 281 homes, adding that upon occupation, each home will be fully income generating, with an expected inflation-linked leveraged yield which supports the company s total return of 8% and dividend targets of around 5%.
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Gresham House acquire Appian Asset Management Limited for €4.55 million 7:17 am
Gresham House plc (LON:GHE), the specialist alternative asset manager, has announced the acquisition of Appian Asset Management Ltd for an initial consideration of €4.55 million, with €3.6 million payable on completion (€2.7 million in cash from existing resources of the Group and €0.9 million in new shares issued by the Company) and including €0.95 million for cash within the business. Further variable deferred consideration is payable subject to targeted earnings performance up to 31 December 2023, bringing potential total consideration to €10.0 million. The transaction is subject to approval from the Central Bank of Ireland.
Based in the Republic of Ireland, Appian is an active asset manager with c. €330 million in Assets Under Management (AUM) as at 30 September 2020 with €0.4 million normalised EBITDA for the year to 30 November 2020. The firm manages a range of fu
17 December 2020 | 08:54am
StockMarketWire.com - Alternative asset manager Gresham House said it had acquired Appian Asset Management for up to €10 million.
Based in the Republic of Ireland, Appian is an active asset manager with about €330 million in assets under management as at 30 September 2020 with €0.4 million normalised EBITDA for the year to 30 November 2020.
The firm managed a range of funds which invest globally across traditional and alternative asset classes including equities, property, infrastructure, and forestry.
Under the terms of the deal, the company paid €4.55 million, with €3.6 million payable on completion and €0.9 million in new shares issued by and including €0.95 million for cash within the business.