REG - Regional REIT Ltd - Appointment of ARA Europe as Investment Adviser

Regional REITAnnouncement

11/10/2023 07:00

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RNS Number : 6984P  Regional REIT Limited  11 October 2023

11 October 2023

REGIONAL REIT Limited

("Regional REIT", the "Group" or the "Company")

Appointment of ARA Europe as Investment Adviser

 

Regional REIT (LSE: RGL), the regional office specialist, is pleased to
announce that with immediate effect ARA Europe Private Markets Limited ("ARA
Europe"), has been appointed as the Company's investment adviser, having
acquired this role from Toscafund Asset Management LLP*.

 

ARA Europe is part of the ESR Group, Asia-Pacific's largest real asset manager
with approximately US$150 billion AUM, and the largest sponsor and manager of
REITs in the region with a total AUM of approximately US$45 billion. The
development and investment management platform has more than 2,000 people,
extending across 28 countries; and thereof, ARA Europe manages over one
million sq. m. of predominately office and logistics assets across the UK,
Germany, France, Spain and Ireland with a team of over 140 people providing in
house acquisition, development, finance and asset management functions.

 

The acquisition of the investment adviser role by ARA Europe follows the 13
April 2023 announcement that ARA Europe REIT Manager Ltd. had acquired a
majority shareholding in London & Scottish Property Investment Management,
the Asset Manager, with Stephen Inglis retaining a significant interest.

 

The Board believes the appointment of ARA Europe will enhance the overall
strength and capabilities of the both the investment and asset manager to the
benefit of the Company's long-term strategy. Both the management agreements
are to continue on the existing terms to November 2026.

 

Kevin McGrath, Chairman of Regional REIT commented:

 

"The Board welcomes the appointment of ARA Europe and looks forward to working
closely with an experienced and well-resourced team, whilst ensuring the
services and operational performance received to date are maintained."

 

Stephen Inglis, Non-Executive Director of Regional REIT and CEO of London
& Scottish Property Investment Management, the Asset Manager, commented:

"We are delighted to confirm ARA Europe's appointment today and believe the
Company will benefit from such an experienced and well-resourced manager.
Whilst the investment management responsibilities are moving to ARA Europe,
the day-to-day management of the Company will remain unchanged and there will
be no disruption to the running of Regional REIT during the transition."

*Toscafund Asset Management LLP will continue to act as the alternative
investment fund manager ("AIFM") and provide the relevant regulatory services
to the Company until an affiliate of ARA Europe has acquired its own
regulatory permissions, which is expected to be in early 2024, when the new
affiliate will become the AIFM and provide the relevant regulatory services to
the Company in place of Toscafund.

 

 

 

 

 

 

 

- ENDS -

 

Enquiries:

 

 Regional REIT Limited
 Press enquiries through Buchanan

 Investor Relations                                      Tel: +44 (0) 20 7845 6100
 Adam Dickinson

 London & Scottish Property Investment Management        Tel: +44 (0) 141 248 4155
 Asset Manager to the Group
 Stephen Inglis

 Buchanan Communications                                 Tel: +44 (0) 20 7466 5000
 Financial PR
 Charles Ryland, Henry Wilson, George Beale

 

Further information:

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION (EU) NO. 596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018.

On publication of this announcement via a Regulatory Information Service, the
inside information contained herein is now considered to be in the public
domain. The person responsible for arranging this announcement on behalf of
the Company is Megan Freeman, for and on behalf of Link Company Matters
Limited, Company Secretary.

About Regional REIT

Regional REIT Limited ("Regional REIT" or the "Company") and its
subsidiaries (the "Group") is a United Kingdom ("UK") based real estate
investment trust that launched in November 2015. It is managed
by London & Scottish Property Investment Management Limited, the Asset
Manager, and Toscafund Asset Management LLP, the Investment Manager.

Regional REIT's commercial property portfolio is comprised wholly of income
producing UK assets and comprises, predominantly of offices located in the
regional centres outside of the M25 motorway. The portfolio is geographically
diversified, with 150 properties, 1,038 occupiers as at 30 June 2023, with a
valuation of c.£752.2m.

Regional REIT pursues its investment objective by investing in, actively
managing and disposing of regional core and core plus property assets. It aims
to deliver an attractive total return to its Shareholders, targeting greater
than 10% per annum, with a strong focus on income supported by additional
capital growth prospects.

The Company's shares were admitted to the Official List of
the UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the Group's
website at www.regionalreit.com (http://www.regionalreit.com/)  .

Cautionary Statement

This document has been prepared solely to provide additional information to
Shareholders to assess the Group's performance in relation to its operations
and growth potential. The document should not be relied upon by any other
party or for any other reason. Any forward looking statements made in this
document are done so by the Directors in good faith based on the information
available to them up to the time of their approval of this document. However,
such statements should be treated with caution due to the inherent
uncertainties, including both economic and business risk factors, underlying
any such forward-looking information.

ESMA Legal Entity Identifier ("LEI"): 549300D8G4NKLRIKBX73

 

 

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