Real estate income fund RECI impresses with 12 committed deals and growing pipeline

Real Estate Credit Investments Ltd (LON:RECI) announced its Investment Manager’s monthly Fact Sheet as at 31 March 2022. 

The highlights of the monthly update are provided below:

  • NAV as at 31 March 2022 was £1.499 per share after payment of the latest dividend, representing an overall decrease of 2.2p per share from the 28 February 2022 NAV of £1.521 per share.
  • The change in NAV per share was due to:-
    • the payment of the fourth interim dividend of 3.0p, which went ex-dividend in March,
    • receipt of 1.0p of interest income; and
    • 0.2p of negative mark-to-market (‘MTM’) adjustments across the bond portfolio, due to yield-widening across the corporate bond market, largely driven by the war in Ukraine and related considerations.
  • Since 1 April 2021, the total NAV return for RECI was 7.2%.
  • During the month of March 2022, RECI committed £20.0m to a senior development loan to support the development of an assisted living facility in London. This deal has an expected IRR of 8.5%, with an entry LTV of 60% and an expected exit date of December 2024.
  • Since 1 April 2021, RECI has:-
    • committed £171.8m to 12 deals across 6 countries; and
    • fully realised a total of £94.8m across 6 deals.
  • RECI paid out 4 dividends since 1 April 2021, totalling 12p.
  • The pipeline for the Cheyne real estate debt business continues to grow in 2022, with many new attractive opportunities.

Real Estate Credit Investments (LON:RECI) is a closed-ended investment company, incorporated in Guernsey, which originates and invests in real estate debt secured by commercial or residential properties in Western Europe, focusing primarily on the United Kingdom, France and Germany. The Company’s aim is to deliver a stable quarterly dividend with minimal volatility, across economic and credit cycles, through a levered exposure to real estate credit investments.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn

More articles like this

A positive outlook for Real Estate Credit opportunities

Over the past two and a half years, rising interest rates have created higher yields for commercial real estate (CRE) credit investments. Banks, which have traditionally been the largest lenders in this sector globally, have reduced

Real Estate Credit Investments: Resilience and Growth

The real estate credit sector has been demonstrating strong resilience and adaptability amidst recent global economic fluctuations, with lending trends reflecting a continued demand for property financing. Despite interest rate hikes in major markets, the appetite

Mark Thompson joins board of Real Estate Credit Investments as a NED

In line with the Board’s succession planning and following the appointment of an independent recruitment firm and a comprehensive search process, Real Estate Credit Investments Limited (LON:RECI) has announced that Mark Thompson has been appointed, with effect from

The appeal of Real Estate Credit in today’s investment market

On October 24, 2024, Benefits and Pension Monitor, in collaboration with Fiera Capital, hosted a webinar featuring industry experts to discuss the rising appeal of private real estate credit as an alternative to traditional fixed-income investments.

Understanding Real Estate Credit

Through the years, the advantages of investing in Private Real Estate Credit (high-yield debt) have essentially remained the same: Attractive relative value, equity cushion to absorb asset stress due to unexpected events, real asset collateral to

Private real estate credit emerges as a strong investment alternative

Investors are increasingly favouring private real estate credit over traditional fixed-income investments, and it’s easy to see why. Offering higher yields, greater portfolio diversification, and enhanced resilience compared to fixed-income products, this emerging asset class is

Opportunity in the Commercial Real Estate market

The uncertainty surrounding the future of commercial real estate is reflected in the frequent announcements of wind-ups or mergers related to UK commercial property investment trusts. The sale of iconic buildings at prices that offer a

Real estate investment trends for 2024

The real estate investment industry is in a state of constant flux, and 2024 presents both challenges and opportunities for investors. The traditional real estate model has significantly changed, shaped by shifts in user behaviour and

How global megatrends are shaping the future of Commercial Real Estate

The evolving landscape of commercial real estate (CRE) requires long-term investment strategies that take into account significant global forces that can reshape economies and property markets. These forces, often referred to as megatrends, drive technological innovations,