Real Estate Credit Commits Over GBP105 Million In December

(Alliance News) - Real Estate Credit Investments Ltd on Monday said that it, together with its ...

Alliance News 20 January, 2020 | 2:15PM
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(Alliance News) - Real Estate Credit Investments Ltd on Monday said that it, together with its investment manager Cheyne Capital Management, has committed a total of EUR105.7 million across four deals in December.

The real estate investor said it has committed GBP38 million loan to a portfolio of 17 properties located across the UK and has separately loaned EUR4 million to fund the acquisition of a plot of land in Bologna, Italy.

The company said that land to be acquired in Italy already has planning permission for the development of a 513-bed student accommodation scheme.

Real Estate Credit has also committed to a EUR54.7 million senior loan to support the acquisition and refurbishment of a mixed use prime residential and retail building located in the 8th arrondissement of Paris, comprising 1,478 square metres of residential area and 578 square metres of ground floor retail.

In addition, the company said it will provide a EUR16.7 million loan for the development of an office building in Bagnolet, Paris.

"We are pleased to have had such a strong conclusion to 2019 and are excited to maintain this momentum into the new year. Our deal pipeline remains strong and we are well positioned to participate in the continued opportunities in its target real estate markets," said Ravi Stickney, head of Real Estate at Cheyne Capital.

Real Estate Credit Shares were trading 0.3% lower at 172.85 pence each on Monday afternoon in London.

By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Real Estate Credit Investments Ord 171.50 GBX 0.00 -

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