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Real Estate Investors completes on sales worth £9.7m
StockMarketWire.com
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Property investment trust Real Estate Investors has raised more than £9.7 million through the sale of four properties across the Midlands.
All four sales were completed 'at or above book value', the trust said.
The transactions include the £5.35 million sale of the freehold on an Aldi supermarket, marking a 32% uplift on its valuation at the end of December 2019.
The associated rental reduction from the sales was £457,500 a year, Real Estate Investors said.
CEO Paul Bassi said the proceeds would be used to reduce gearing in order to use existing cash and bank facilities to make acquisitions.
The trust indicated that it had 'a number of other properties... anticipated to unconditionally exchange contracts before the year end'.
At 10:01am: (LON:RLE) Real Estate Investors PLC share price was +0.5p at 33.5p
Story provided by StockMarketWire.com
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