REG - Real Est Crd InvsLtd - Fact Sheet Announcement

Real Estate Credit InvestmentsAnnouncement

22/01/2025 07:00

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RNS Number : 1760U  Real Estate Credit Investments Ltd  22 January 2025

Real Estate Credit Investments Limited

 

Investment Manager Fact Sheet

 

Real Estate Credit Investments Limited (the "Company" or "RECI"), a
non-cellular company incorporated in Guernsey, is pleased to announce that its
Investment Manager's monthly Fact Sheet as at 31 December 2024 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 31 December 2024, the Company was invested in a diversified portfolio of
22(1) investments with a valuation of £297.6m. The Company's cash balance
was £32.2m and net effective leverage was 15.3%.

 

An interim dividend of 3p per share was declared on 28 November 2024, to be
paid on 3 January 2025 to Ordinary Shareholders on the register at the close
of business on 6 December 2024.

 

During the month, RECI was fully repaid at par its position in a senior
development loan secured against a logistics platform in France. RECI received
c.£8.6m of gross proceeds and achieved an unlevered gross IRR of 9.5%.

 

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

 

 November NAV      147.1p
 Interest income   0.9p
 Asset valuations  0.3p
 FX                0.1p
 Expenses          -0.4p
 Dividend          -3.0p
 December NAV      145.0p

 

 

(1) Note that two position where RECI had investment in both equity and debt
have now been combined for reporting purposes. As a result, the number of
positions reported in this period has reduced by 3, with only one position
representing a repayment.

 

 

For further information please contact:

 

 Broker:              Darren Vickers / Alex Collins (Panmure Liberum)             +44 (0)20 3100 2222
 Investment Manager:  RECIIR@cheynecapital.com (mailto:RECIIR@cheynecapital.com)  +44 (0)20 7968 7450
                      (Cheyne)

 

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