February 21, 2025 15:31 GMT
REAL ESTATE: Property: Week in Review
REAL ESTATE
A strong market despite gyrations in rates. Next week has results from Realty Income and Public Storage.
- Icade had one of the weaker sets of results for the sector with cautious guidance for 2025. Nevertheless, in an overall strong market it rallied 7bps on average with the 28s snapping 22bps tighter.
- Goodman cemented its reputation as a leader in Data Centres with a A$4.4bn equity raise to fund development. GMGAU 34.25 30 were unchanged vs a market which was 5 tighter.
- Castellum received an inaugural BBB rating from S&P. Presumably, issuance will follow soon.
- VGP had solid results and a bullish development programme. Confinimmo, Aedifica, and Vicinity were all stable.
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