Real estate investing: Sustained quality of RECI portfolio key, October fact sheet

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 October 2022 is now available on the Company’s website at:

The highlights of the monthly update are provided below:

•     NAV as at 31 October 2022 was £1.490 per share, representing an increase of 0.7p per share from the 30 September 2022 NAV of 1.483 per share.

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

•     1.0p of interest income;

•     0.2p of negative mark-to-market (‘MTM’) adjustments across the bond portfolio, due to continued yield-widening across bond market; and

•     0.1p of operating costs.

•     During the month of October 2022, RECI committed £45.2m to a senior development loan to support the development of a student accommodation facility in London. This deal is floating rate, has an expected yield of 10.6%, an entry LTV of 55% and an expected exit date of December 2025.

•     Real Estate Credit Investments expects to deploy its currently available cash resources in near term commitments and continues to see a growing pipeline of senior loans at attractive floating rates.

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