IN BRIEF: Schroder European Real Estate renews St Cloud office loan

Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Completes the early refinancing of its St Cloud, Paris office loan, extending the term by three years to December 15, 2027 from December 15, 2024. Decides to reduce the loan principal to EUR14.0 million from EUR17.0 million.

Following this transaction, Schroder European Real Estate's third-party debt totals EUR82.5 million across six loan facilities. "We have successfully managed the company's main re-financing risk, pre-empting the tougher lending environment we anticipate facing select offices," Schroder Real Estate Investment Management Ltd Fund Manager Jeff O'Dwyer says.

Current stock price in London: 69.00 pence

12-month change: down 11%

Current stock price in Johannesburg: ZAR16.00

12-month change: down 3.1%

By Artwell Dlamini, Alliance News reporter

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