Grit Real Estate Income Group - Update from QuotedData
27th September 2023
Grit 2.0
Having concluded its acquisition of a leading property developer and asset manager, pan-African property company Grit Real Estate Income Group (Grit) has been reborn. Grit 2.0 has a greater and more achievable return target (of between 12% and 15% per annum) thanks to the controlling stake it now owns in Gateway Real Estate Africa (GREA) and its attractive pipeline of net asset value (NAV) accretive, risk-mitigated development projects - most notably diplomatic residences across the continent that are let to the US government.
Ongoing asset recycling - away from the retail and hospitality sectors - has shored up its balance sheet, while creative means of raising additional capital should secure the substantial development pipeline and plot a way to ongoing, sustainable returns and growing, resilient income. A new line of revenue through the fee income earned from the property asset management business adds further robustness to its earnings and supports its dividend.
Full Research:
https://quoteddata.com/research/grit-real-estate-income-group-grit-2-0-qd/
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