Regional REIT Limited Completion of acquisition of two portfolios (2754A)
27 December 2017 - 6:00PM
UK Regulatory
TIDMRGL
RNS Number : 2754A
Regional REIT Limited
27 December 2017
27 December 2017
REGIONAL REIT LIMITED
("Regional REIT", "the Group" or "the Company")
Completion of acquisition of two portfolios comprising 20
properties
Further to the announcement on 4 December 2017 of a proposed
capital raise for the acquisition of two portfolios together
comprising 20 properties, and the subsequent announcement on 19
December 2017 confirming a successful capital raise of
GBP73million, the Company is delighted to confirm the two
acquisitions completed on Friday 22 December 2017.
Stephen Inglis, Chief Executive Officer of London & Scottish
Investments, the Asset Manager of Regional REIT, commented: "We are
pleased to have completed the acquisitions of both portfolios -
again demonstrating our ability to get deals done and deliver on
our commitments.
"Both portfolios are immediately income and earnings accretive,
and help Regional REIT move further towards its objective of
becoming the specialist regional property player of scale."
- ENDS -
Enquiries:
Headland
Francesca Tuckett / Bryony Sym / Jack Gault / - 0203 805
4822
About Regional REIT
Regional REIT Limited (LSE: RGL) ("Regional REIT", the "Group"
or the "Company") is a London Stock Exchange Main Market traded
specialist real estate investment trust focused on office and
industrial property interests in the principal regional locations
of the United Kingdom outside of the M25 motorway.
Regional REIT is managed by London & Scottish Investments,
the Asset Manager, and Toscafund Asset Management, the Investment
Manager, and was formed by the combination of two existing funds
previously created by the Managers as a differentiated play on the
expected recovery in UK regional property, to deliver an attractive
total return to Shareholders and with a strong focus on income.
The Group's investment portfolio, as at 30 June 2017, was spread
across 150 regional properties, 1,093 units and 823 tenants. As at
30 June 2017, the investment portfolio had a value of GBP640.4m and
a net initial yield of 6.7%. The weighted average unexpired lease
term to first break was 3.5 years.
The Company's shares were admitted to the Official List of the
UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the
Group's website at www.regionalreit.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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