Report
Mark Thomas ...
  • Mike Foster

Real Estate Credit Investments (RECI): Double tangible security

Our recent notes, in the main, have focused on why RECI should prove resilient in uncertain times, given its credit processes, high-quality security, low exposure to high-risk sectors, diversity and management of problem accounts. Market turbulence has reduced competition, and there is distinct upside, particularly in moderate-risk development loan positions. In this note, our property analyst considers the underlying real estate security, and concludes that i) potentially more difficult asset-classes are well underpinned by appropriate loan-to-value (LTV) ratios, ii) the geography and asset-class profile is good, and iii) there is strong evidence of RECI’s value-add, for example, but not exclusively, with its developer loans.
Underlying
Real Estate Credit Investments

Provider
Hardman & Co
Hardman & Co

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Analysts
Mark Thomas

Mike Foster

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