23 April 2009
Real Estate Investors plc
("REI" or the "Company")
York House Finance
Real Estate Investors plc. (AIM : RLE), the West Midlands based property
company, is pleased to announce £2.3 million in loan finance secured against
York House, Birmingham City Centre which was acquired in September 2008.
The financing has been arranged with Svenska Handelsbanken AB ("Handelsbanken")
at 2.95% above LIBOR. Handelsbanken is one of the largest banking operations in
the Nordic region and has been active in the UK market since 2000.
Paul Bassi, Chief Executive, commented:
"We are again pleased to have secured this finance against some of our
unencumbered properties and this additional capital will provide added resource
for capitalising on commercial property opportunities that are readily available
in the market place".
End
Enquiries:
Real Estate Investors plc +44 (0)121 524 1174
Paul Bassi
Smith & Williamson Corporate Finance Limited +44 (0)20 7131 4000
Azhic Basirov / Siobhan Sergeant
Notes to Editors
1. REI is an AIM listed property investment and development company
specialising in commercial property throughout the Midlands and Central England
2. REI is focused on delivering shareholder value through returns generated
from strong yields and capital enhancements. This is achieved by targeting
investments in orphaned, distressed, part-let and underperforming commercial
property assets
3. REI's Board is led by respected property-entrepreneur Paul Bassi, who has
over 25 years of property experience. Mr Bassi is also founder and chairman of
Bond Wolfe Auctioneers, one of the UK's largest (top 50) property auction houses
and estate agents, and chairman of Bigwood Chartered Surveyors
4. REI was admitted to trading on AIM in June 2004. In December 2006, REI
successfully raised £25 million to aggressively grow its property portfolio. In
January 2008, it raised a further £20 million through refinancing its portfolio.
As at 30 June 2008, its portfolio and inventories were valued at £49 million
5. Further information on REI can be found at www. reiplc.com
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