Real Estate Credit Investments Ltd (LON:RECI), a non-cellular company incorporated in Guernsey, has announced that its Investment Manager’s monthly Fact Sheet as at 31 March 2024 is now available:
| – | As at 31 March 2024, the Company was invested in a diversified portfolio of 31 investments with a valuation of £304.8m. |
| – | An interim dividend of 3p per share was declared on 22 February 2024, to be paid to shareholders on the register at the close of business on 15 March 2024; the ex-dividend date was 14 March and it was paid on 5 April. |
| – | During March, RECI was fully repaid at par its position in a senior facility for a UK industrial site development. RECI received net proceeds of c.£12m and achieved an IRR of 9.2% for a deal with an LTV at inception of 59.3%. |
| – | RECI continues to use its cash to invest in its existing commitments in highly accretive wider opportunities in senior mortgage lending. |
| – | Cash Balance as at 31 March 2024 was £23.9m. Net effective leverage currently stands at 1.2%. |
| – | A full attribution of changes in the NAV per share is presented in the table: |
| February NAV | 146.6p |
| Interest income | 1.6p |
| Asset valuations | -0.6p |
| FX | 0.1p |
| Expenses | -0.2p |
| Dividend Payment | -3.0p |
| March NAV | 144.5p |
Real Estate Credit Investments Limited (LON:RECI) is a closed-end investment company that specialises in European real estate credit markets. Their primary objective is to provide attractive and stable returns to their shareholders, mainly in the form of quarterly dividends, by exposing them to a diversified portfolio of real estate credit investments.
