Update: Significant growth and diversification
The past three months have seen substantial progress in SPDI’s strategy for cash-generative growth and diversification of its property portfolio within the South-East Europe region. It has completed the acquisition of c US$20m of income producing assets, with a further US$20m due to complete imminently. Subject to that last completion, these three transactions (two in Romania and one in Greece) should more than double annualised net operating income from the 2013 level to c US$7.5m. The emergence of positive cash flow provides the base for the further substantial acquisition-led growth that management seeks, funded by new equity and debt.
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