Secure Income REIT, which owns assets including Warwick Castle, the Brewery, Manchester Arena and Alton Towers, has grown its portfolio value by 5.3% during the year to 31 December.
Its portfolio was externally valued at a blended net initial yield of 5.1%, amounting to £2.3bn.
EPRA net asset value per share grew by 8.1% to 400.5p during the year.
The REIT’s net loan to value ratio was 43%, a 13.4% reduction on its equivalent of 49.6% in 2017.
During the year it bought Manchester Arena as part of its acquisition of two off-market portfolios for £436m. These were funded by two debt facilities totalling £128.7m.
It also raised £315.5m in an equity issue.
Martin Moore, non-executive chairman of Secure Income REIT, said: “2018 represented another step change in the growth of the company.
“Not only did the existing portfolio meet its objectives of delivering capital growth and increasing rental income, we sourced two major off-market transactions which met our strict acquisition requirements and which have already made a significant impact on the results of the group.
“While political and economic uncertainty is elevated and volatility in financial markets on the rise, the fundamentals of our business remain unchanged and we continue to view its prospects with confidence.”
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