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 |
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