RECI Real Estate Credit Investments

Hardman & Co Research on Real Estate Credit Investments (RECI): French and German exposures in perspective

Hardman & Co Research
Hardman & Co Research on Real Estate Credit Investments (RECI): French and German exposures in perspective

27-Feb-2024 / 15:35 GMT/BST
The issuer is solely responsible for the content of this announcement.

Hardman & Co Research on Real Estate Credit Investments (RECI):

French and German exposures in perspective

 

We last reviewed RECI’s operations in France, 25% of the latest portfolio, in our note, , published 15 February 2022. The core approach is unchanged, but, following the report of an unrealised hit of 1.6p to the NAV from a prime Grade A Paris office exposure, we thought we would review them again. Also, with the reporting a 1.1p NAV hit from a legacy mezzanine position exposed to a Berlin asset, we have considered the de minimis German exposure. While the unrealised losses were unexpected, we show how conservative RECI’s accounting has been and the portfolio resilience.

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Hardman & Co
9 Bonhill Street

London

EC2D 4DJ

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Contact:

Mark Thomas

 

Mike Foster



 

 



 

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About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.


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The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service

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