Completion of acquisition of two portfolios

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 £73million, 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."

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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 £640.4m 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.

 

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