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Share Name Share Symbol Market Type Share ISIN Share Description
Triple Pnt Soc LSE:SOHO London Ordinary Share GB00BF0P7H59 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.40p +0.40% 100.00p 99.60p 100.00p 100.00p 99.00p 99.00p 1,358,277 16:26:43
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 1.0 5.7 3.9 25.4 351.35

Triple Pnt Soc Share Discussion Threads

Showing 176 to 197 of 200 messages
Chat Pages: 8  7  6  5  4  3  2  1
Liberum; Potential equity issue Event Triple Point Social Housing REIT has agreed a further £6.2m of acquisitions comprising six supported housing properties and a forward funding scheme. The company expects to have invested or committed the proceeds of its recent debt raise by the end of October and intends to raise further equity in the near-term. A prospectus is expected to be published in mid-September. The stock trades on a 7.6% premium to NAV in comparison to an average -1.7% discount for social housing peers.
Cannacord; Earlier this week, SOHO.L made a couple of announcements, a further acquisition of a £15.2m portfolio, and the agreement of a £68.5m two tranche loan. Acquisition. The Board of Triple Point Social Housing REIT plc (tickers: SOHO; SOHC) is pleased to announce that the Group has completed the acquisition of 11 supported housing properties comprising 74 units in total, for an aggregate consideration of £15.2 million (excluding costs). The properties are located in Greater London (56 units) and the Midlands (18 units). The Group has entered into new FRI leases in respect of the properties for a minimum period of 20 years, with the ability to extend to 25 years (22 years for one property), with specialist housing associations, Chrysalis Supported Association, Encircle and Inclusion Housing. These housing associations are regulated by the Regulator of Social Housing. The rents received under the leases are subject to annual, upward-only rent reviews, increasing in line with the Consumer Prices Index and will generate net initial yields in line with the Company's investment criteria and returns profile. The properties comprise specialist, high quality homes refurbished for individuals with mental health and other support and care needs. Fixed Rate Loan The Group has entered into a long dated, fixed rate, interest only financing arrangement in the form of a private placement of loan notes in an amount of £68.5 million with a US life insurance company (the "Loan Notes"). The Loan Notes are secured against a portfolio of specialist supported living assets throughout the UK, worth approximately £172 million, acquired in the period from admission in August 2017 to the end of March 2018. The amounts which have been drawn down under the Loan Notes are segregated and non-recourse to the Company. The Loan Notes are split into two tranches: Tranche-A, in an amount of £41.5 million, has a term of 10 years from utilisation and is priced at an all-in coupon of 2.924%; and Tranche-B, in an amount of £27 million, has a term of 15 years from utilisation and is priced at an all-in coupon of 3.215%. On a blended basis, the weighted average term is 12 years carrying a weighted average fixed rate coupon of 3.039%. The Loan Notes represent a loan-to-value ("LTV") of 40% of the value of the secured assets referred to above, which is in line with the Company's investment policy and long term debt strategy of securing low LTV, long dated debt to capitalise on the low interest rate environment in order to enhance shareholder returns. The Loan Notes are the first of a planned debt funding programme designed to support the Company's continued growth. Triple Point Investment Management LLP, the Company's Delegated Investment Manager, intends to utilise the proceeds of the Loan Notes to fund an extensive pipeline of further acquisitions over the next three to five months. In accordance with its investment policy, the Company will maintain a prudent level of gearing, targeting a level of aggregate borrowings of 40% of the Group's gross asset value, subject to an absolute maximum of 50% of the Group's gross asset value (calculated at the time of draw down). Once fully invested the Company will have a gross asset value of circa £315m (comprising the £200m IPO proceeds, £47.4m C share proceeds, and the £68.5m loans). In summary, the REIT enjoys: 100% ownership of the properties Target 5% dividend yield rising with inflation: Income is secured through long-dated inflation-linked leases All leases are Fully Repairing and Insuring – all operating and maintenance risk lies with the RP(Registered Provider eg Housing Association) Crucially, there is NO exposure to the provision of care, which is provided separately by a specialist 3rd party care provider Regulatory protection: REIT income is government backed by central government, fully regulated under 2014 Care Act Positive Social Impact through the provision of secure long term accommodation for vulnerable tenants
According to Cannacord it was confirmed last night that SOHO will be entering the FTSE AllShare in June.
dave .. FYI I have posted today on the CSH BB re the First Priority HA situation .. kind regards ....
Liberum; Event Triple Point Social Housing has acquired three supported living properties comprising 20 units in total, located in Berkshire (6 units), County Durham (6 units) and Lancashire (8 units), for £3.6m. Each of the properties are subject to new 20 year FRI leases with specialist housing associations (Auckland Home Solutions CIC, Bespoke Supportive Tenancies Limited and Encircle Housing). The leases are extendable to 25 years and rents are subject to annual upward only rent reviews in line with CPI. In total, the fund has now invested c.£145m (73% of net IPO proceeds) in the period since launch in August 2017. The shares currently trade on a 6.9% premium to NAV compared to a 4.2% premium for closest peer Civitas Social Housing. LXI REIT has acquired the freehold interest in the Stobart biomass storage and processing plant located in Rotherham for £3.4m. The net initial yield on the acquisition is 6.2%. The asset will be leased backed to Stobart Biomas Products Ltd under a 20 year lease; the lease has no tenant break rights and rents are subject to five year RPI linked rent reviews, with a 1.5% per annum collar and a 4% per annum cap. The acquisition is being funded by the company's debt facility. The shares current trade at a 1.0% premium to NAV, compared to a 0.5% average premium for UK real estate peers.
Liberum; Event LXI REIT and Triple Point Social Housing REIT have announced new acquisitions: LXI has acquired a 413-bed student accommodation property in Dundee for £20.25m (6.3% net initial yield). The property is fully let to Mears Group and the remaining term on the lease is 21.5 years (annual, CPI-linked rent reviews). The asset is located in the centre of Dundee, close to both the University of Dundee and Abertay University. The acquisition is being funded by the company's debt facility. The shares currently trade on a 1% premium to NAV. Triple Point Social Housing REIT has acquired 10 supported housing properties for £10.7m. The properties are located in Gloucestershire (29 units), Leicestershire (28 units) and Northumberland (3 units). Each asset is let on a new 20-year lease to housing associations (Auckland Home Solutions CIC and Westmoreland Supported Housing). In total, the fund has now invested £141m (72% of net IPO proceeds) in the period since launch in August. The shares currently trade on a 6.9% premium to NAV (compared to a 6.2% premium for peers). Alternative Funds - W
4 January 2018 Triple Point Social Housing REIT plc (the "Company" or, together with its subsidiaries, the "Group") INVESTMENT UPDATE TO 31 DECEMBER 2017 The Board of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to provide the following update on its investment activity for the period from IPO on 8 August 2017 to 31 December 2017. The Company made a number of investments and in doing so has created a portfolio of regulated supported housing assets:1 Funds invested (excluding purchase costs) £130.1 million Number of properties 115 Number of leases with Approved Providers* 65 Approved Providers with whom the Company has leases 11 *The portfolio is 100% let or pre-let. Some leases cover multiple properties. The portfolio is also geographically diverse, currently spread across the following regions of England: North West 38.7% North East 18.7% West Midlands 14.6% East Midlands 8.8% Yorkshire 7.8% South 4.9% South East 3.8% London 2.6% Percentages based on funds invested (excluding purchase costs). The Company's delegated investment manager, Triple Point Investment Management LLP ("Triple Point"), has developed partnership programmes with a number of specialist vendors in the sector. Through these relationships, Triple Point has secured an attractive near-term off-market pipeline of more than 105 additional properties worth over £145 million that are allocated to the Company, on which it expects to contract over the next four months. In addition, Triple Point continues to evaluate potential portfolio acquisitions and forward funding opportunities through its network of contacts, which primarily spans Registered Providers and developers, as well as investors working in the sector. Chris Phillips, Chairman of the Company, commented: "The Company has made an encouraging start, deploying £130.1 million of the IPO proceeds to date in assets which afford both high quality accommodation to some of the most vulnerable people in our society and the opportunity for long-term value creation to the Company's shareholders. The Company will pay a dividend of 1p per share in respect of the period to 31 December 2017, and remains on track to deliver a 5p per share dividend in respect of its first full financial year to 31 December 2018.2"
Liberum; Triple Point Social Housing has purchased six supported housing properties (88 units) for an aggregate purchase price of £10.7m. The properties are predominantly located in Lancashire. A new 20-year FRI lease has been agreed for each asset with annual, CPI-linked rent reviews. The tenants are all housing associations which are registered providers (My Space Housing Solutions, Falcon Housing Association and Auckland Home Solutions). The shares currently trade on a 6.5% premium to NAV compared to a 2.5% average for peers.
Liberum; Specialist Real Estate Triple Point Social Housing (Mkt Cap £207m) £10.4m acquisition Event Triple Point Social Housing has announced the acquisition of four supported living properties comprising 52 units in total, located in Merseyside, Lancashire and Brighton. The assets are immediately income producing and have an initial yield in line with the company's target net initial yield of between 5.5%- 6.5%.The Merseyside property is subject to an existing lease with a registered provider which has 17 years left to run; the company aims to enter into a new longer FRI lease in respect of this property. Triple Point has entered into new 20 year (with the ability to extend to 25 years) FRI leases in respect of the other three properties, which are subject to annual upward only rent reviews in line with CPI. We estimate that the company has deployed c.£50m since launch, around 25% of the gross IPO proceeds of £200m. The shares currently trade at a 5.6% premium, compared to a 2.2% premium for closest peer Civitas Social Housing.
Liberum; Specialist Real Estate Residential Secure Income (Mkt Cap £178m) and Triple Point Social Housing (Mkt Cap £207m) Acquisitions Event Residential Secure Income has announced its first acquisition since IPO in July. The fund has acquired a portfolio of 1,341 rental retirement properties for a total consideration of c.£100m. The portfolio consists of long leasehold or freehold interests in 250 retirement housing blocks (one and two bedroom assisted living flats), concentrated in Southern England, which will be operated by Places for People. The portfolio is subject to RPI linked leases which provide residents with lifetime security of tenure. The fund also aims to secure debt over the portfolio, which will enhance returns. The manager has advised that a £250m transaction for the acquisition of shared ownership properties is likely to be completed in early 2018; this transaction would complete the deployment of the IPO proceeds, plus leverage. The shares currently trade at a 1.0% premium to NAV at IPO (98p). Triple Point Social Housing has announced the acquisition of three supported living properties for a £7.1m (excluding costs). The properties comprise 52 units, located in Leicester, Manchester and Wolverhampton. The company has entered into new FRI leases (two for 20 years, with the ability to extend to 25 years, and one of 25 years) with the relevant Housing Associations in respect of the properties; rents are subject to annual, upward only rents reviews in line with CPI. The shares currently trade at a 5.4% premium to NAV at IPO (98p).
.£10.5m acquisitionEventTriple Point Social Housing REIT has acquired 12 supported housing properties for an aggregate purchase price of £10.5m (excluding costs). Nine of the properties are in Sunderland with the remainder in Bournemouth, Durham and Newcastle. New 20 year FRI leases have been agreed with Auckland Home Solutions, Bespoke Supportive Tenancies and Falcon Housing Association for these assets. The lease have the option to extend to up to 25 years. Rents are subject to annual, upward-only reviews linked to the CPI. This is the company's third portfolio acquisition since launch. Approximately £31m has been deployed to date (excluding transaction costs) and the company expects to be fully invested within nine months of launch.  Triple Point trades on a 4.1% premium to NAV compared to a 3.5% premium for its closest peer Civitas Social Housing although we note Civitas has taken a large valuation uplift due to a portfolio premium being applied to its assets post-acquisition.  
Liberum view on Civitas;The pipeline indicated by Civitas highlights the ongoing need in the supported living and adult social care sector and the supply of property coming from local authorities and housing associations, which need to raise capital to invest in new social housing. Triple Point Social Housing launched last month and has a similar investment strategy, although it will take forward funding risk. All the leases associated with these social properties are inflation-linked (generally CPI). Recently, the Housing and Communities Agency sounded a note of caution to housing associations in relation to these transactions as the Local Housing Allowance Cap, which comes into effect for supported housing in 2019/2020, could put financial pressure on housing assoications. In addition, rent restrictions, which came into force for social housing in 2016 and supported housing in April 2017, are currently driving down rents in the social sector.The shares are currently trading at a 6.4% premium to NAV, this compares to an average  premium of 3% for the specialist real estate funds and a 4% premium for direct peer Triple Point (to NAV at IPO). The current annualised yield is 2.7%.
Liberum;Triple Point Social Housing (Mkt Cap £204m)£21m of IPO proceeds deployedEventSince raising £200m at IPO early last month Triple Point Social Housing has announced that it has completed the acquisition of it £17.9m seed portfolio of five supported housing properties, in addition to a further portfolio of three supported housing assets (18 beds) for £3.0m. Both acquisitions have an initial yield in line with the company's target net initial yield of between 5.5%- 6.5%. All properties are subject to 20 year inflation linked leases. The company targets full deployment of the IPO proceeds within 9 months of admission. The portfolio will focus on supported housing assets (c.80%), which are subject to inflation linked, 20-25 year fully repairing and insuring leases. The portfolio will comprise both operating assets and forward funding of developments, will provide enhanced returns but will only be considered in circumstances where a lease agreement is already in place.On 14 August the company gave notice to HMRC of its intention to operate as a REIT. Liberum viewTriple Point has an immediate peer in Civitas Social Housing, which also focuses on supported housing for vulnerable adults. However, Civitas does not take any forward funding risk. Civitas has traded at a premium to NAV since launch (currently 7.3%) demonstrating the perceived attractiveness of the social housing strategy. Given that provision of supported living and adult social care has been hit particularly hard by local government funding cuts, which show no sign of meaningfully abating, it was inevitable that private investment in the sector would increase to meet demand. Non-specialist funds, such as GCP Infrastructure and GCP Asset Backed Income Fund, have also started moving into the social housing/supported living sector (on the debt side) in the past c. two years.Triple Point currently trades at a 4.2% premium to NAV at IPO.
Is the guy to the left of Tina that bloody road rager.:-) M
Martini - blimey, so it is, he's changed his email too! Sands - jealousy will get you nowhere, well it hasn't helped me! Ps. Wanna buy a Rotweiller ? or better, as you know my towering physical presence would stop any intruder,
Martini: Oh yes and who was his Master then in these shops. And tell them what you bought as well? M PS How is the blow up baabara.
Looks like some kind of frog to me monsieur
Who's the chap in the cab with her???? A.
You should have seen the size of my pupils. Off to get the daily Star to see what I have been missing
Sands Yes and wasn't that your left ear on the first photo and look how big those pupils are as she looked at you............. M
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