12 Jan 2023 07:00
This announcement contains inside information
Date and time of release: 12 January 2023, 7:00 am
Real Estate Credit Investments Limited
Investment Manager Fact Sheet
Real Estate Credit Investments Limited (the "Company"), a non-cellular company incorporated in Guernsey, is pleased to announce that its Investment Manager's monthly Fact Sheet as at 31 December 2022 is now available on the Company's website at:
https://www.recreditinvest.com/investors/fact-sheets/
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:- |
Ø the payment of the second interim dividend of 3.0p, which went ex-dividend in December; and | |
Ø 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:- |
Ø A Paris prime resi/retail building fully repaid with an exit IRR of 4.9% and a multiple of 1.2x; | |
Ø A portfolio of six freehold French hotels fully repaid with an exit IRR of 8.0% and a multiple of 1.3x; and | |
Ø 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. |
For further information please contact:
Broker: | Richard Crawley / Darren Vickers (Liberum Capital) | +44 (0)20 3100 2222 |
Investment Manager: | Richard Lang (Cheyne) | +44 (0)20 7968 7328
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Real Est.cred (RECI)