News about Elite UK REIT —
Elite Commercial REIT latest portfolio valuation saw a sharp drop in value and, as a result, an increase of its gearing level to 49.6%, close to the MAS limit of 50%:
In a business update on Tuesday (Dec 5), the Reit manager reported an adjusted net asset value (NAV) per unit of £0.43, representing a 15.7 per cent drop from £0.51 as at end-September.
With no near-term debt maturity until end-2024, the manager said the Reit remains compliant with all financial covenants under its debt facilities.