REG - Real Est Crd InvsLtd - Fact Sheet Announcement

Real Estate Credit InvestmentsAnnouncement

11/12/2023 07:15

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RNS Number : 2442W  Real Estate Credit Investments Ltd  11 December 2023

Real Estate Credit Investments Limited

 

Investment Manager Fact Sheet

 

Real Estate Credit Investments Limited (the "Company"), a non-cellular company
incorporated in Guernsey, is pleased to announce that its Investment Manager's
monthly Fact Sheet as at 30 November 2023 is now available on the Company's
website at:

 

https://realestatecreditinvestments.com/investors/fact-sheets/#currentPage=1
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Frealestatecreditinvestments.com%2Finvestors%2Ffact-sheets%2F%23currentPage%3D1&data=05%7C01%7CKitten.Ozanne%40aztecgroup.co.uk%7Cc57d48098cc044cef33c08db46fca8cf%7C5f75785019e44329bc48045f1fe3eecd%7C0%7C0%7C638181823255240174%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=JzKf39S6BljvT2QFxbzoEHbH6r8sSJr4LQWAgj3xfgk%3D&reserved=0)

 

As at 30 November 2023, the Company was invested in a diversified portfolio of
35 investments with a valuation of £322.6m.

 

Due to severe disruption in the German real estate and banking market from the
collapse of Signa, RECI has reassessed the recovery valuation on a legacy
mezzanine position exposed to a Berlin asset. RECI has therefore
conservatively marked this asset down, reporting (but not realising) a small
loss equivalent to 1.1p per share against the NAV.

 

Cash Balance as at 30 November 2023 was £16.9m.

 

RECI continues to take advantage of the highly accretive wider opportunities
in senior mortgage lending.

 

A dividend of 3.0p per share was declared on 29 November 2023, to be paid on 5
January 2024.

 

A full attribution of changes in the NAV per share is presented in the table:

 

 October NAV       148.4p
 Interest income   1.0p
 Asset valuations  (1.1)p
 FX                0.1p
 Expenses          (0.3)p
 November NAV      148.1p

 

 

For further information please contact:

 

 Broker:              Richard Crawley / Edward Mansfield (Liberum Capital)  +44 (0)20 3100 2222
 Investment Manager:  Richard Lang (Cheyne)                                 +44 (0)20 7968 7328

 

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