Grit Real Estate Income Group – 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%) thanks to the controlling stake it now owns in Gateway Real Estate Africa (GREA) and its attractive pipeline of NAV accretive, risk-mitigated development projects – most notably diplomatic residences across the continent that are let to the US governm

Grit Real Estate Income Group – 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) is a radically different proposition. Grit 2.0 has a greater return target (of between 12% and 15%) thanks to the controlling stake it now owns in Gateway Real Estate Africa (GREA) and its pipeline of potentially NAV accretive, risk-mitigated development projects – most notably diplomatic residences across the continent that are let to the US gover

Grit Real Estate Income* (GR1T): Stabilised + repositioned for growth (CORP)

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

Grit Real Estate Income Group – Going for growth

Pan-African property company Grit Real Estate Income Group (Grit) is on track to complete the acquisition of a controlling stake in developer Gateway Real Estate Africa (GREA) by May next year, which would unlock considerable potential for NAV and income growth. GREA’s attractive pipeline of development projects includes diplomatic housing let to the US government across the continent. Consequently, the composition of Grit’s portfolio will change dramatically over the next two years, with corpo

Grit Real Estate Income Group – Going for growth

Pan-African property company Grit Real Estate Income Group (Grit) says that it is on track to complete the acquisition of a controlling stake in developer Gateway Real Estate Africa (GREA) by May next year, which it says has the potential to unlock NAV and income growth. GREA’s pipeline of development projects includes diplomatic housing let to the US government across the continent. Consequently, the composition of Grit’s portfolio could change dramatically over the next two years, with corpor

Grit Real Estate Income Group - Transition underway

African property company Grit Real Estate Income Group (Grit) has cleared a path for increased dividend distributions and NAV growth following a decisive piece of corporate action in the form of a heavily NAV dilutive capital raise. It has used the proceeds to bring its loan to value (LTV) under control and to expand its core business with the acquisition of a developer and asset manager. The developer – Gateway Real Estate Africa (GREA) – has an attractive pipeline of NAV accretive development

Grit Real Estate Income Group - Transition underway

African property company Grit Real Estate Income Group (Grit) believes that it has cleared a path for increased dividend distributions and NAV growth following a potentially decisive piece of corporate action in the form of a heavily NAV dilutive capital raise. It has used the proceeds to bring down its loan to value (LTV) under control and to expand its core business with the acquisition of a developer and asset manager. Grit’s manager says that the developer – Gateway Real Estate Africa (GREA)

Showing some grit

Grit Real Estate Income Group (Grit) has taken decisive action to secure its future with the announcement of a proposed capital raise of up to US$215.6m. The group’s portfolio has suffered heavy valuation declines during the COVID-19 pandemic, especially in the retail sector, which has seen its loan to value ratio (LTV) soar to 53.1%. The equity raise will be used in two parts: firstly to pay down debt and secondly to acquire a controlling stake in a real estate developer, which has an attractiv

Showing some grit

Grit Real Estate Income Group (Grit) has taken decisive action to secure its future with the announcement of a proposed capital raise of up to US$215.6m. The group’s portfolio has suffered heavy valuation declines during the COVID-19 pandemic, especially in the retail sector, which has seen its loan to value ratio (LTV – borrowings plus cash as a percentage of portfolio valuation) soar to 53.1%. The proceeds of the equity raise will be used in two parts: firstly to pay down debt and secondly to

On the path to recovery

Despite significant headwinds caused by the COVID-19 pandemic, Grit Real Estate Income Group (Grit)’s diverse portfolio has proved resilient, with rent collection rates of 91.4% and a slight recovery in property valuations. Buoyed by the performance of its offices (the group’s largest sector exposure), corporate accommodation and industrial portfolios, plus its consistently strong rent receipts, the group has reinstated its dividend (after suspending it at the height of the pandemic), albeit at