Update and proposed acquisition
Regional REIT (RGL) has announced a gross asset value update, a fourth quarter dividend for 2016 and the conditional acquisition from Conygar of a portfolio of 31 properties valued at c £129m. We will revise our forecasts following publication of FY16 results and completion of the acquisition. The announcements show that RGL has achieved its aim of paying a dividend yielding 7-8% on the IPO price of 100p; the continued robust performance of the UK’s regional office and light industrial property market; and a significant expansion of the portfolio, rent roll and opportunities for active asset management, in line with RGL’s strategy to provide income and capital value growth.Regional REIT is a real estate investment trust company. Co. is engaged in the investment, management and disposition of regional property assets. Co.'s commercial property portfolio is in the U.K. comprises of offices and industrial units located in the regional centers of the U.K. outside of the M25 motorway. As of Dec 31, 2016, the portfolio is diversified with 123 properties, 941 units and 717 tenants.
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