Custodian Property Income REIT - Positive income indicators in a challenging market
In Q323, Custodian Property Income REIT (CREI) continued to capture occupational demand, lease vacant space across all sectors and grow rental income. This underpins fully covered dividends and provided a partial offset to strong market-wide pressure on property valuations. Moderate gearing mitigated the impact on NAV, while income is protected by 80% of drawn debt having a fixed cost.Custodian REIT is a U.K. real estate investment trust with a portfolio comprising regional properties predominantly let to institutional grade tenants throughout the U.K. Co. provides investors access to a diversified portfolio of U.K. commercial real estate through a closed-ended fund. Co. has appointed Custodian Capital Limited as Investment Manager and Alternative Investment Fund Manager. The Investment Manager provides property management and administrative services to Co.
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