Real estate fund RECI invests £24.9m in high IRR deals in June

Real Estate Credit Investments

Real estate income fund, Real Estate Credit Investments (LON:RECI)  a non-cellular company incorporated in Guernsey, has announced that its Investment Manager’s monthly Fact Sheet as at 30 June 2022 is now available on the Company’s website at: https://realestatecreditinvestments.com/investors/fact-sheets

The highlights of the monthly update are provided below:

•     NAV as at 30 June 2022 was £1.519 per share, representing a decrease of 0.3p per share from the 31 May 2022 NAV of £1.522 per share.

•     The change in NAV per share was due to:-

•     1.0p of interest income; and

•     1.3p of negative mark-to-market (‘MTM’) adjustments across the bond portfolio, due to yield-widening across the corporate bond market, largely driven by increasing inflationary pressures, rising interest rate projections and the war in Ukraine.

•     During the month, RECI committed £24.9m across two loans:-

•     £11.8m to a senior loan for land in the UK. This deal has an expected IRR of 9.5%, with an LTV of 60% and an expected exit date of June 2024.

•     £13.1m to a senior core+ loan to a residential facility in the UK. This deal has an expected IRR of 7.4%, with an entry LTV of 65% and an expected exit date of December 2023.

•     During the month of June 2022, one loan repaid:-

•     A senior development loan in France repaid £2.4m to RECI. This deal repaid with an exit IRR of 11.6% and a multiple of 1.2x.

•     The Company continues to see a pipeline of attractive opportunities and has a number of near-term commitments into which it can commit its available cash resources.

Real estate income fund, Real Estate Credit Investments (LON:RECI) is a specialist investor in UK and European real estate credit markets with a focus on fundamental credit and value. 

You might also enjoy reading  Real Estate Credit Investments: Marks taken in uncertainty, released thereafter
Find more news, interviews, share price & company profile here for:
Real Estate Credit Investments RECI

Good news travels fast (but only if you make that happen). Share on:

Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Facebook
Share on email
Email
Share on reddit
Reddit
Find more news, interviews, share price & company profile here for:
Real Estate Credit Investments RECI

AIM All Share Index