Source - LSE Non-Regulatory
RNS Number : 8715N
Grit Real Estate Income Group
27 September 2023
 

Rosslyn Grove, diplomatic residences let to the US EmbassyA picture containing text, sign, clipart Description automatically generated

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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NB: Marten & Co was paid to produce this note on Grit Real Estate Income Group and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.

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