Real Estate Credit Investments Limited
Investment Manager Fact Sheet
Real Estate Credit Investments Limited (the "Company" or "RECI"), a non-cellular company incorporated in Guernsey, is pleased to announce that its Investment Manager's monthly Fact Sheet as at 31 July 2024 is now available on the Company's website at:
https://realestatecreditinvestments.com/investors/fact-sheets/#currentPage=1
| - | As at 31 July 2024, the Company was invested in a diversified portfolio of 26 investments with a valuation of £296.7m. |
| - | During July, RECI invested c.£18.5m (net) into the refinancing of a portfolio of four 4-star upscale hotels in central London. The senior floating rate loan features a conservative loan-to-value and an attractive risk-return profile, projecting a levered yield of 15%+. The Sponsor is a well-capitalised and publicly listed global hotel operator, with a significant equity position in the transaction. |
| - | Cash Balance was £27.9m. Net effective leverage was 16.7%. |
| - | RECI continues to use its cash to invest into new and existing loan commitments. |
| - | A full attribution of changes in the NAV per share is presented in the table: |
| June NAV | 147.9p |
| Interest income | 1.6p |
| Asset valuations | 0.2p |
| FX | 0.1p |
| Dividend | -3.0p |
| Expenses | -0.3p |
| July NAV | 146.5p |
For further information please contact:
| Broker: | Darren Vickers / Alex Collins (Panmure Liberum) | +44 (0)20 3100 2222 |
| Investment Manager: | RECIIR@cheynecapital.com (Cheyne) | +44 (0)20 7968 7450 |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.