In QuotedData’s morning briefing 22 January 2024:

• HgCapital Trust (HGT) has announced that it has sold its entire stake in Argus Media, a leading independent provider of intelligence to the global energy and commodity markets. HGT will sell its shareholding to Argus’s current CEO Adrian Binks, and General Atlantic, a major minority shareholder. The transaction will value HGT’s stake at c.£52m, and will represent a 7% uplift on its most recent valuation. HGT expects the transaction to be completed over the next month.
• Aquila Energy Efficiency Trust (AEET) has announced that its investment advisor, Aquila Capital, has entered into a partnership with Commerzbank, whereby Commerzbank will take a 74.9% stake in the advisor. The partnership is designed to accelerate Aquila Capital’s growth, with Aquila Capital remaining autonomous in terms of operations, investment decisions, product development and brand representation. AEET’s existing management and fund management teams will remain unchanged.
• Custodian Property Income REIT (CREI) has sold an industrial unit in Milton Keynes for £8.0m, representing a 9.5% or £0.7m premium to the 30 September 2023 valuation.
• Warehouse REIT (WHR) has updated on leasing activity for the three months to 31 December 2023, in which it completed 0.9m sq ft of lettings, securing £5.2m of contracted rent, on average 22.1% ahead of previous contracted rent. The leasing activity comprised 15 new lettings, 33.2% ahead of previous contracted rent and 8.4% ahead of March 2023 ERV; 16 renewals, 38.2% ahead of previous contracted rent and 9.8% ahead of March ERV; and six rent reviews, 13.7% ahead of previous contracted rent and 1.4% ahead of March ERV. This brings total leasing activity for the nine months to 31 December 2023 to 1.4m sq ft and £8.5m, on average 26.9% ahead of previous contracted rent, with £1.2m of reversion captured. Like-for-like contracted rental growth for the nine month period is 3.7%.