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 March 2024 is now available on the Company’s website.
| As at 31 March 2024, the Company was invested in a diversified portfolio of 31 investments with a valuation of £304.8m. | |
| – | An interim dividend of 3p per share was declared on 22 February 2024, to be paid to shareholders on the register at the close of business on 15 March 2024; the ex-dividend date was 14 March and it was paid on 5 April. |
| – | During March, RECI was fully repaid at par its position in a senior facility for a UK industrial site development. RECI received net proceeds of c.£12m and achieved an IRR of 9.2% for a deal with an LTV at inception of 59.3%. |
| – | RECI continues to use its cash to invest in its existing commitments in highly accretive wider opportunities in senior mortgage lending. |
| – | Cash Balance as at 31 March 2024 was £23.9m. Net effective leverage currently stands at 1.2%. |
Current portfolio holding yielding 10.5% trading at a discount to NAV of 20%. A strong hold as the loans are secured against property.
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