While the Covid-19 pandemic slowed private equity (PE) deal-making and fundraising in Southern Africa in 2020, certain sectors within the industry still stand to benefit from the ongoing wave of portfolio and balance sheet restructurings.
‘During 2020, various market experts were aligned that the economic cycle seemed to have created opportunities for PE players to pursue public-to-private transactions and to acquire businesses or divisions of listed groups that needed to rationalise and pay down debt,’ says
Jutami Augustyn, partner at leading African law firm, Bowmans. ‘This still seems to be the case as we move into the next quarter of 2021 and we expect more to come.’
(1)
Amounts include $9,385 of net straight-line accrued rent from rent deferral repayments from the COVID-19 rent deferral lease amendments. Excluding such, AFFO per common share would have been $0.71 for the quarter ended March 31, 2021.
First Quarter 2021 Highlights:
As of April 28, 2021, NNN had collected approximately 97% of rent originally due for the quarter ended March 31, 2021, and approximately 98% of rent originally due in April 2021
Collected approximately $2.2 million of receivables written-off in 2020 from cash basis tenants
Maintained high occupancy levels at 98.3%, with a weighted average remaining lease term of 10.6 years, at March 31, 2021 as compared to 98.5% at December 31, 2020 and 98.8% at March 31, 2020
Invested $105.6 million in property investments, including the acquisition of 29 properties with an aggregate 355,000 square feet of gross leasable area at an initial cash yield of 6.4%
STAG Industrial Announces First Quarter 2021 Results
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BOSTON, May 4, 2021 /PRNewswire/ STAG Industrial, Inc. (the Company ) (NYSE:STAG), today announced its financial and operating results for the quarter ended March 31, 2021. We recently celebrated our tenth anniversary as a public company, said Ben Butcher, Chief Executive Officer of the Company. Over that time, through the growth in our portfolio and our platform, we have established ourselves as one of the leaders of industrial real estate. There continues to be tremendous opportunity both within our portfolio and across the investable landscape, and we look forward to the continued execution of our business plan.
Community Healthcare Trust Announces Results for the Three Months Ended March 31, 2021
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FRANKLIN, Tenn., May 4, 2021 /PRNewswire/ Community Healthcare Trust Incorporated (NYSE: CHCT) (the Company ) today announced results for the three months ended March 31, 2021. The Company reported net income for the first quarter of approximately $5.3 million, or $0.21 per diluted common share. Funds from operations and adjusted funds from operations ( AFFO ) for the three months ended March 31, 2021 totaled $0.54 and $0.57, respectively, per diluted common share.
Highlights include:
During the first quarter of 2021, the Company issued, through its at-the-market offering program ( ATM Program ), 435,272 shares of common stock at an average gross sales price of $46.70 per share and received net proceeds of approximately $19.9 million at an approximate 3.74% current equity yield.
Sunstone Hotel Investors Reports Results For First Quarter 2021
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IRVINE, Calif., May 3, 2021 /PRNewswire/ Sunstone Hotel Investors, Inc. (the Company or Sunstone ) (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, today announced results for the first quarter ended March 31, 2021.
First Quarter 2021 Operational Results (as compared to First Quarter 2020):
Resumption of Hotel Operations: 15 of the Company s 17 hotels were in operation for the entirety of the first quarter 2021.
Net Loss: Net loss was $55.3 million as compared to $162.5 million.
17 Hotel Portfolio RevPAR: 17 Hotel Portfolio RevPAR decreased 69.5% to $42.19.
Adjusted EBITDA
re, excluding noncontrolling interest decreased 203.7% to $(14.7) million.