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In previous reports, we have highlighted RECI’s downside resilience. Its recent investor day (see our note Investor Day: opportunities aplenty) highlighted the scale of opportunities for the trust in 2026 and beyond. The key driver is its strong pipeline driven by the manager’s expertise and scale accessing the least competitive sectors of real estate lending. It can earn good returns (typically 8%-10% unleveraged) with only modest sensitivity to whole-market dynamics. Regular repayments, both contractual and customers refinancing, mean that there is flexibility to take opportunities as they emerge. We sense an increased appetite for development finance.
If you'd like to be introduced to the team at Real Estate Credit Investments (RECI), get in touch.
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