New River REIT
Posted: May 24th, 2019, 8:08 pm
New River NRR, a relative tiddler with its £667mio cap, and former Woodford favourite but I try not to hold that against them, figures in some Fools' HYPs.
They have announced a joint venture with Pimco....
'....a partnership with Pimco’s Bravo Strategies III, a private equity-style fund, with the acquisition of four retail parks in Aberdeen, Dundee, Inverness and the Isle of Wight for £60.5mio. It plans to boost the portfolio to about £500mio of assets over the next few years. Allan Lockhart, chief executive of New River Reit, said: “Pimco is a global investor so they are looking at pricing globally and areas where there is some dislocation. UK retail is very dislocated and, from a pricing perspective, it is very attractive compared with [other sectors such as] industrial and logistics."'
Glad someone is still able to make money from retail.
Current yield knocking on 10% ooer, and SP near a four year bottom, but anyway, there they are in the ISA portion of OH's HYP.
V8
They have announced a joint venture with Pimco....
'....a partnership with Pimco’s Bravo Strategies III, a private equity-style fund, with the acquisition of four retail parks in Aberdeen, Dundee, Inverness and the Isle of Wight for £60.5mio. It plans to boost the portfolio to about £500mio of assets over the next few years. Allan Lockhart, chief executive of New River Reit, said: “Pimco is a global investor so they are looking at pricing globally and areas where there is some dislocation. UK retail is very dislocated and, from a pricing perspective, it is very attractive compared with [other sectors such as] industrial and logistics."'
Glad someone is still able to make money from retail.
Current yield knocking on 10% ooer, and SP near a four year bottom, but anyway, there they are in the ISA portion of OH's HYP.
V8