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EXTENSION OF RETIREMENT PORTFOLIO LEASES
EXTENSION OF RETIREMENT PORTFOLIO LEASES.
About this update from Residential Secure Income Plc
[{"type":"text","content":"\n \nRNS Number : 2526U Residential Secure Income PLC 28 March 2019 \n\n28 March 2019\nResidential Secure Income plc (\"ReSI\") \nEXTENSION OF RETIREMENT PORTFOLIO LEASES\n \nResidential Secure Income plc (\"ReSI\") (LSE: RESI), which invests in affordable shared ownership, retirement and local authority housing, is pleased to announce that it has extended to 150 years the unexpired term of the leases of 279 of its long-leasehold retirement properties.\n \nThese properties previously had an average unexpired lease term of 80 years and are part of the portfolio of 2,186 retirement homes, which ReSI purchased in 2017 and 2018. The arrangement will increase the average unexpired lease term of the 2,100 leasehold units in the portfolio to 131 years, which ReSI expects will enhance the value of the portfolio, thereby contributing favourably to ReSI's total return. \n \n \nFOR FURTHER INFORMATION, PLEASE CONTACT: \n\n\n\nReSI Capital Management Limited\nJonathan Slater\nBen Fry\nAlex Pilato\nMark Rogers\nRichard Stubbs\n\n\n+44 (0) 20 7382 0900\n\n\n\n\n\n\n\n\n\n\n\n\n Jefferies International Limited \n Stuart Klein\n Gary Gould\n\n\n+44 (0) 20 7029 8000\n\n\n\n\n\n\n\n\n\n\n\n\n FTI Consulting \n Richard Sunderland \n Claire Turvey \n Richard Gotla\n\n\n+44 (0) 20 3727 1000\nEmail: [email protected]\n\n\n\n \nNOTES:\nReside...