- UPDC REIT published their financial statements for the period ended December 2017. The trust earned a total of N2.21billion resulting in an earnings yield of 8.10%. Review the full statement here. As a result of an inability to dispose of portfolio asset as previously expected and desire to lease out VMP I, the earnings yield forecast was revised downwards from 14.3% to 6.13%. The REIT’s fund manager will continue to seek additional investment opportunities in quality real estate assets. Review the full statement here.
- Notice of UPDC REIT final dividend payment.
- The Board of Resort Savings and Loans PLC has informed the Nigerian Stock Exchange and other stakeholders that they are still working towards the recapitalisation of the bank. To complete this exercise, they have concluded the audit of their financial statements from 2015 – 2017 and are awaiting approval from the Central Bank of Nigeria before submission to the NSE. More here.
- Union Homes REIT published performance indicators for their real estate portfolio at the end of July 2018. The REIT currently has 13 properties, a Net Asset Value of N12.866bn and yields ranging between 0%-6.39%. See more here.
- Union Homes REIT also published their financial statements for the period ended December 2017. The trust earned a total of N295m over the period. Rental income declined by 44% as a result of the non-renewal of 2 core tenants in their properties. Review the full statement here.
CATEGORIES: Private Equity, REITs & Funds