Real estate investment fund, RECI total NAV return 5.9% in 2022

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 December 2022 is now available:

The highlights of the monthly update are provided below:

· NAV as at 31 December 2022 was £1.482 per share, representing a decrease of 2.0p per share from the 30 November 2022 NAV of £1.502 per share.

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

  • the payment of the second interim dividend of 3.0p, which went ex-dividend in December; and
  • 1.0p of interest income.

· RECI’s Total NAV Return for the 2022 calendar year was 5.9%.

· During the month of December 2022, three loans fully repaid with the following returns:-

  • A Paris prime resi/retail building fully repaid with an exit IRR of 4.9% and a multiple of 1.2x;
  • A portfolio of six freehold French hotels fully repaid with an exit IRR of 8.0% and a multiple of 1.3x; and
  • A hotel in the southeast of France fully repaid with an exit IRR of 6.9% and a multiple of 1.3x.

· In December, a new loan on loan lending facility was signed. This will increase RECI’s financing flexibility and assist with increasing portfolio returns and dividend cover.

· The Company 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.

· RECI expects to re-invest their repayments into high returning deals in 2023.

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

More articles like this

Key Commercial Real Estate trends to watch in 2024

The industrial sector is experiencing significant growth driven by the rise in e-commerce and online sales. This surge is creating increased demand for warehouse and manufacturing properties, as well as facilities like refueling and rest stops

UK commercial property market improves in Q1 2024

The latest RICS Commercial Property Monitor has revealed that whilst the market in the UK showed some improvements in Q1 2024, certain areas of the market continue to struggle against structural headwinds. Tenant demand rose in

Real Estate Credit Investments Investor Day at Cheyne Capital

Real Estate Credit Investments Ltd (LON:RECI), a non-cellular company incorporated in Guernsey, has announced that its Investment Manager Cheyne Capital LLP will hold a RECI investor day at their offices on Thursday 27th June 2024. The day will

Understanding Real Estate asset management in the European market

The European real estate landscape is undergoing significant changes: heightened market fluctuations, surging inflation, and escalating interest rates. This landscape makes it complex for investors to find secure, diversified, and stable investment avenues. The emergence of ESG and sustainability-related topics

Commercial Real Estate: Brighter days ahead

Brighter days could be coming for the commercial real estate industry after a cooldown in recent years. Private real estate investment funds remain highly attractive to investors globally, with 39% of them intending to put more

2024 European property market transformation

The European property market, poised on the cusp of transformation in 2024, beckons investors and stakeholders with a blend of cautious optimism and strategic foresight. Amidst the backdrop of a decade-low in real estate investment, emerging

UK set to lead European Real Estate resurgence in 2024

The U.K. looks poised to lead a European real estate resurgence this year as international investors return capital to the region’s strained property market. An anticipated fall in interest rates and modest economic revival will spur