Real Estate Investors increased its rental income by 38% to £8.4m in the 12 months to the end of December.
The REIT also saw its property assets increase in value by 51% to £157m, making it a record year for the company, according to its annual results. This helped the company increase its NAV by 5% to 64.5p a share.
The company took a total of £45m in new debt facilities over the year which, along with £57.7m of acquisitions, helped reduce debt cost and loan-to-value across the portfolio.
By the end of December the company LTV was reduced from 35.2% to 22.4%.
• To send feedback e-mail mike.cobb@estatesgazette.com or tweet @MikeCobbEG or @estatesgazette
