REG - Real Est Crd InvsLtd - New Transaction

Real Estate Credit InvestmentsAnnouncement

16/07/2024 14:15

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RNS Number : 4599W  Real Estate Credit Investments Ltd  16 July 2024

 

Real Estate Credit Investments Limited

("RECI" / the "Company")

 

New Transaction

 

 

RECI is pleased to announce that on 16 July 2024, the Company invested
c.£18.5m (net of leverage) into the senior refinancing of a portfolio of
4-star upscale hotels in central London. The senior floating rate loan
transaction is secured against four well-located London hotels that offer
affordable rooms of a high standard, along with substantial meetings &
events facilities. The loan features a conservative loan-to-value and an
attractive risk-return profile. The Sponsor is a well-capitalised and publicly
listed global hotel operator, with a significant equity position in the
transaction.

The expected net returns to RECI are highly accretive towards its net income,
will enhance dividend cover and support the Company in continuing
to provide an attractive and stable income to investors.

 

This is the first investment by the Company for its financial year commenced 1
April 2024 from a pipeline of attractive opportunities identified by its
investment manager, Cheyne Capital.

 

 

For further information please contact:

 

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

 

 

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