IWG’s recovery delayed by ongoing pandemic restrictions across the globe
Workspace group IWG has told investors its “anticipated recovery” from Covid-19 will be delayed as restrictions and lockdowns continue in many of its markets across the world.
NewRiver collects 70% of rents in latest quarter
RDI collects 77.6% of UK retail rents since pandemic struck
Hammerson collects less than half of first quarter rents
TCS collects 76% of first quarter rents
British Land appoints Tesco executive as finance chief
Eskmuir snaps up £45m industrial portfolio from Legal & General
NW1 sells logistics portfolio
McKay collects 91% of rents since March 2020
High rent collection rate allows LXi to increase investor payout
Urban Logistics buys in Merseyside and reveal 99% rent collection figure
Banks and Lending
Pictet/XLB joint venture secures £70m loan
A joint venture (JV) between Pictet Alternative Advisors and XLB has secured a £70m loan from German bank Helaba.
Fund management
Property funds saw £1.1bn in withdrawals in 2020
Open-ended property funds saw £1.1bn of withdrawals in 2020, according to global funds network Calastone.