Real Estate Investors PLC
10 January 2005
Real Estate Investors PLC
("REI" or the "Company")
Completion of £7.6 million Financing Facility with Norwich Union
REI, the fast expanding commercial property investment company which floated on
AIM in June 2004, announces that it has today completed a 25 year, fixed
interest, term loan with Norwich Union. The £7,600,000 facility, which allows
for substitution of security and the trading of properties,
carries a coupon of 6.04% and will be utilised to assist in the Company's recent
purchase of 3147398 Limited (formerly known as Bacchus Estates Limited) and its
progressing acquisition programme.
Peter Lewin, chief executive of REI, said: "Since it completed its successful
flotation in June last year, REI has raised additional equity funding and has
made a number of significant acquisitions. The 25 year fixed interest,
institutional, funding facility with Norwich Union further establishes our solid
financing base.
The Board believes that REI starts 2005 with the resources and track record to
achieve our objective of building a substantial property investment business."
Further information:
Peter Lewin - CEO 01923 776633
Malcolm Lewin - FD
Real Estate Investors PLC
Christopher Joll 020 7491 7776
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10 January 2005
This information is provided by RNS
The company news service from the London Stock Exchange
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