RCS - Grit Real Estate Inc - Research from QuotedData

Grit Real Estate IncomeAnnouncement

05/07/2022 15:30

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RNS Number : 4103R  Grit Real Estate Income Group  05 July 2022

Grit Real Estate Income Group - Research from QuotedData

 

5(th) July 2022

 

Transition underway

 

African property company Grit Real Estate Income Group (Grit) has cleared a
path for increased dividend distributions and net asset value (NAV) growth
following a decisive piece of corporate action in the form of a heavily NAV
dilutive capital raise. It has used the proceeds to bring its loan to value
(LTV - borrowings plus cash as a percentage of portfolio valuation) under
control and to expand its core business with the acquisition of a developer
and asset manager.

 

The developer - Gateway Real Estate Africa (GREA) - has an attractive pipeline
of NAV accretive development projects, most notably diplomatic residences
across the continent let to the US government and data centres (see page 5 for
an in-depth look at the development pipeline). Meanwhile, within its current
portfolio, its hospitality assets are rebounding with the return of
international travel, and retail valuations seem to have bottomed out -
suggesting valuation growth in these sectors. Grit also has plans to ramp up
exposure to the industrial sector, which is chronically undersupplied across
Africa.

 

Full research:

https://quoteddata.com/research/grit-real-estate-income-group-transition-underway-qd/
(https://quoteddata.com/research/grit-real-estate-income-group-transition-underway-qd/)

 

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NB: Marten & Co was paid to produce this note on Grit Real Estate Income
Group and it is for information purposes only. It is not intended to encourage
the reader to deal in the security or securities mentioned in this report.
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