Real Estate Credit Investments Limited (LON:RECI), a non-cellular company incorporated in Guernsey, has announced that its Investment Manager’s monthly Fact Sheet as at 30 November 2023 is now available on the Company’s website at:
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 |
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.
