Pacific Ind Share Discussion Threads

[spectoacc] 29/4/2018 06:13

Thanks @Sky, have created new thread and done as you suggested.

[skyship] 27/4/2018 17:22

Specto - no, he won't be able to do that. Topvest just needs to open the new thread under the EPIC of SHED; and place in the Header a link to this old thread.

[spectoacc] 27/4/2018 15:15

@topvest, are you able to change this thread to the new EPIC? ie the rather trender SHED, which should surely belong to BBOX.

[trogerswinning] 27/4/2018 15:14

Another great fundraising to fund an off-market portfolio, and also a name change to boot.

Shame the broker cannot raise the target fundraise size. Useless.

6% divvy + NAV growth to come :)

[spectoacc] 17/4/2018 16:08

269k at 121p is interesting, tho prob delayed-reported.

I like PILR in that they're shrewd - can see them being eg £2.50 in a 5 years time, whereas eg RGL (which I also hold) are further down the scale, albeit with a great yield.

[lovat scout] 11/4/2018 08:17

The lack of retail participation in the placing also will do nothing to increase the liquidity and narrow the usual 5-6% spread, which completes the alienation circle by putting off retail investors. Shame really - good management and sector.

[topvest] 10/4/2018 19:28

I've voted against all the resolutions including the totally stupid name, not that it will make any difference. Just making a stand! They are alienating their once supportive shareholders.

[tiltonboy] 10/4/2018 09:11

This was done at a premium to the price you could buy at in the market, and even more so when considering you don't get the dividend either!

[skyship] 10/4/2018 08:20

Specto - agreed, that 119.5p placing price is pretty impressive, as likely to have been at a premium to underlying NAV. 116.2p as at 30th September, so by now may be up 2%, but no more than 119p.

With the historic yield below 3%; of course set to move higher but every new placing provides funds that have to be put to work - so an earnings lag.

Sp unlikely to make any progress IMO. Better value elsewhere, especially RGL & RLE; though have to admit I'm talking my book in that respect!

[lovat scout] 09/4/2018 07:12

I suspect it was placed at a discount to NAV - we’ll have to wait for the results to find out.

[spectoacc] 09/4/2018 06:54

Price is OK at least - 119.5p, not bad in this market.

[lovat scout] 09/4/2018 06:52

So £20.4m raised via a placing and subject to approval at AGM on 25/04 - there was plenty of time for a concurrent intermediary offer except Canaccord presumably decided to just go to institutional shareholders to raise 40% of the target amount. Non-institutional shareholders and PIs shut out one has to assume so that Canaccord isn’t embarrassed again by the success of the intermediary offer last time. Very poor

[lovat scout] 30/3/2018 08:40

I won’t bore you with the full story but PILR were first movers in the listed mid/small logistics space, have great management and board but have been let down badly by their choice of brokers in trying to gain scale. Warehouse REIT overtook them in one leap but Warehouse then panicked and bought a fully priced portfolio from Hansteen. PILR is a good investment but they don’t make it easy for us to get involved. The second fund raise was mostly from platforms and intermediaries- why not repeat the exercise?

[spectoacc] 30/3/2018 07:52

Weird aren't they. Doing exactly what they set out to do, having good success as that t/s shows, yet this is the 2nd (or 3rd?) time they've raised money like this, and certainly the 2nd time they've got only a fraction of what they were after. Is all a bit pathetic.

[topvest] 29/3/2018 18:54

Yes, you’d think they would at least give an open offer. Losing my patience!

[lovat scout] 29/3/2018 17:07

So placing scaled back to £20m and no access for PIs. The company is really doing a good job of alienating investors, especially as the wide share price spread discourages already. It will be interesting to see where the placing is done as NAV must be north of 120p in this strong property sub-sector.

[topvest] 19/3/2018 07:59

No and ignoring existing shareholders again. There should be an open offer facility. If this is dilutive I won't be happy. They ignore existing holders, except those that are big enough or have a chance to get into the placing. Its not good enough.

[spectoacc] 19/3/2018 07:29

Like the sound of the assets, the name change, the 10-15% targeted return and "in excess of 6%" divi - but is a placing price mentioned?

[spectoacc] 16/3/2018 09:57

Haven't seen the press, and seemed to be covered last month anyway, but - they'd better not dilute:

16 March 2018
Pacific Industrial & Logistics REIT plc
("Pacific Industrial & Logistics " or the "Company")
Response to Press Commentary
Pacific Industrial & Logistics, (AIM: PILR), the specialist UK industrial and logistics REIT, notes the recent press commentary in Property Week.
Pacific Industrial & Logistics has a strategy to build a significant real estate business with a focus on assets in the industrial and logistics real estate subsectors with individual values of less than GBP10 million. The Directors believe that an attractive investment opportunity exists to develop a diversified portfolio of properties which meet its target investment criteria, which are located in key logistics locations and which have strong cash flow characteristics.
The Company confirms it is in preliminary discussions with existing and potential new investors to raise equity finance of up to GBP50m to fund the acquisition of an identified pipeline of urban logistics assets. There can be no certainty that either the fundraising nor the acquisitions will complete.
The Board will provide a full update in due course.

[spectoacc] 26/2/2018 08:02

"In addition, the Board is considering various potential acquisitions and the necessary equity and debt financing to complete them. "

[trogerswinning] 15/1/2018 15:57

I missed the announcement before Xmas that the company acquired the last portfolio. Good news. Lots of low rents to rebase.

That is all the equity capital spent.

Now what? Company must be on the hunt for new deals.

[sirgainalot] 07/12/2017 17:28

I see from the intermediaries offer of Aberdeen Standard Life European Logistics fund that Canaccord are fundraising.

Surely this is a conflict with Pacific Industrial?

[nimbo1] 17/11/2017 08:38

excellent disposal, suppose we can't read across for rest of portfolio NAV but shows their active management is v good imo. we should be ok here.

[spectoacc] 17/11/2017 07:26

Nice to see evidence of successful activity:

"The Disposal follows the recent letting of the property on a 10-year lease to P W Gates at a passing rent of GBP6.29 per sq ft, a leading rate for the estate. The total consideration represents a 64% gain on the asset's cost when purchased at the time of the Company's April 2016 IPO, representing an IRR of approximately 43% and a 19% premium to book value as at 31 March 2017. "

[nimbo1] 21/9/2017 16:06

must be getting closer to completing on some of the acquisitions....?