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 December 2024 is now available on the Company's website at:
https://realestatecreditinvestments.com/investors/fact-sheets/#currentPage=1
As at 31 December 2024, the Company was invested in a diversified portfolio of 221 investments with a valuation of £297.6m. The Company's cash balance was £32.2m and net effective leverage was 15.3%.
An interim dividend of 3p per share was declared on 28 November 2024, to be paid on 3 January 2025 to Ordinary Shareholders on the register at the close of business on 6 December 2024.
During the month, RECI was fully repaid at par its position in a senior development loan secured against a logistics platform in France. RECI received c.£8.6m of gross proceeds and achieved an unlevered gross IRR of 9.5%.
A full attribution of changes in the NAV per share is presented in the table:
| November NAV | 147.1p |
| Interest income | 0.9p |
| Asset valuations | 0.3p |
| FX | 0.1p |
| Expenses | -0.4p |
| Dividend | -3.0p |
| December NAV | 145.0p |
1 Note that two position where RECI had investment in both equity and debt have now been combined for reporting purposes. As a result, the number of positions reported in this period has reduced by 3, with only one position representing a repayment.
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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