2nd May 2014 12:17
LONDON (Alliance News) - Schroder Real Estate Investment Trust Ltd Friday said its net asset value rose to GBP190.4 million at March 31, compared with GBP168.5 million at December 31.
In an interim management statement the company said its net asset value per share rose 2.7% to 48.6 pence at March 31 from 47.3 pence at December 31.
During the period the company completed a placing to raise GBP17.2 million at a price of 48.25 pence per share, with some of the proceeds used to acquire the Arndale Centre In Leeds for GBP16.2 million. The placing accounts for the difference between total net asset value and the per-share NAV.
Financially, the company said it has a single loan facility with Canada Life totalling GBP129.58 million secured against property valued at GBP277.9 million as at March 31.
Looking ahead the firm said it is "actively targeting a pipeline of potential acquisitions currently under negotiation and where terms have been agreed with the vendors".
The stock was trading at 53.00 pence Friday, down 0.5%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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