In this interview, Richard Shepherd-Cross, fund manager of Custodian Property Income REIT (CREI), discusses the £36m corporate acquisition of a highly complementary, diversified family owned portfolio, its second such transaction in the past nine months. The acquisition provides a further demonstration of CREI’s ability to effectively marry its investment strategy and listed REIT structure to facilitate the corporate acquisition of family property companies using majority-share consideration. The transaction delivers immediate earnings enhancement, improved dividend cover and offers the potential for value creation through asset and portfolio management opportunities. It is also a further step in CREI’s strategy to increase scale through selective portfolio acquisitions.

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About Bull, Bear & Beyond: Each episode features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.

In this interview, Richard Shepherd-Cross, fund manager of Custodian Property Income REIT (CREI), discusses the £36m corporate acquisition of a highly complementary, diversified family owned portfolio, its second such transaction in the past nine months. The acquisition provides a further demonstration of CREI’s ability to effectively marry its investment strategy and listed REIT structure to facilitate the corporate acquisition of family property companies using majority-share consideration. The transaction delivers immediate earnings enhancement, improved dividend cover and offers the potential for value creation through asset and portfolio management opportunities. It is also a further step in CREI’s strategy to increase scale through selective portfolio acquisitions.

In this video, we interview Kenneth MacKenzie who founded Target Healthcare REIT (THRL) in 2013 and who is CEO of THRL’s manager. THRL had another strong quarter, extending its consistent record of financial returns since it launched. Kenneth discusses how THRL’s focus on modern, purpose-built and future-proof homes, active asset management and a diversified income base all contribute to its performance, its strong sector fundamentals and THRL’s ability to profitably deploy available capital and help meet the essential need for good-quality homes over many years to come.

In this video, we interview Kenneth MacKenzie who founded Target Healthcare REIT (THRL) in 2013 and who is CEO of THRL’s manager. THRL had another strong quarter, extending its consistent record of financial returns since it launched. Kenneth discusses how THRL’s focus on modern, purpose-built and future-proof homes, active asset management and a diversified income base all contribute to its performance, its strong sector fundamentals and THRL’s ability to profitably deploy available capital and help meet the essential need for good-quality homes over many years to come.

Listen on your preferred podcast player below:

• Apple Podcast
• Spotify
• YouTube
• Zencastr

About Bull, Bear & Beyond: Each episode features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.

Social Housing REIT (SOHO) is a UK-listed real estate investment trust with a highly diversified portfolio of specialised supported housing (SSH) assets, providing good-quality, long-term accommodation for vulnerable adults who may have mental health issues, learning difficulties or physical disabilities. SSH is a particular type of social housing which is differentiated by offering significantly adapted or purpose-built homes, within which residents can live independently with care and support. For shareholders, SOHO aims to continue delivering an attractive, growing and predictable long-term income return. As a provider of essential social infrastructure assets, SOHO is an ‘impact investor’ and seeks to deliver a positive social benefit, utilising much-needed private investment capital to increase the provision of new SSH homes, which deliver positive outcomes for residents in a cost-effective manner.

There are five compelling reasons why SOHO represents an attractive investment opportunity.

1. SOHO operates within a structurally supported sector.
2. The portfolio is large, diversified and focused on high-intensity needs, supporting resilient long-term occupancy.
3. SOHO’s recovery is gaining traction, with improving earnings and dividend cover.
4. SOHO offers strong inflation linkage through long-dated, triple-net leases, differentiating it within UK listed social infrastructure.
5. A high yield, conservative fixed-rate debt and a wide discount to EPRA net tangible assets provide both income and potential capital upside.

If you would like to learn more about SOHO, please see our latest research here.

How to invest in the UK’s social impact REITs

To Watch the full interview click here.

In the annual webinar, Target Healthcare REIT provides a timely update on its portfolio performance and strategic priorities.
The session covers key sector themes, investment positioning and how the trust continues to deliver value through healthcare real estate.
Ideal for both existing and prospective investors looking for insight into the care home market and long-term income strategies.

In this interview, Richard Shepherd-Cross, fund manager of Custodian Property Income REIT, discusses current conditions and the outlook for the UK commercial property market and what this means for Custodian, as well as the organic and external growth opportunities for the company. Richard feels strongly that the underlying strength of the market is being overlooked by investors, and that the listed sector offers significant value. He particularly highlights attractive dividends, underpinned by continuing rental growth, in an environment where interest rates have moderated and property values have slowly begun to recover. Custodian pays fully covered dividends with a prospective yield of 7.6% and investors are in effect being paid to wait for potential NAV growth and any closing of the 17% discount to NAV. The other area that he focuses on is the opportunity to grow income and dividends over time. The market rental value of Custodian’s portfolio as estimated by the external valuers is 15% above the current passing rent, representing a significant potential uplift in earnings, and ERV itself continues to grow. Richard also discusses the outlook for further private sector acquisitions. In May, in an all-share transaction, immediately accretive to earnings, Custodian bought Merlin Properties, a privately owned family business, with a complementary portfolio of smaller lot size assets.