馃嚦馃嚞NigeriaWest Africa
NREIT expands portfolio to over 120 assets after N7bn fundraising
via Punch Nigeria8 min read
The Chapel Hill Denham Nigeria Real Estate Investment Trust NREIT has expanded its property portfolio to over 120 assets following a successful Series 5 fundraising that generated N7bn. This capital was used to finalize strategic real estate acquisitions, including an additional warehouse facility at the Lagos Free Zone, and to boost the trust's liquidity and working capital. NREIT's diversified portfolio now includes four industrial facilities with blue-chip tenants and 119 corporate residential units leased to diplomatic and corporate residents, with rentals paid in US dollars. The trust reported a strong financial performance for the period ending March 31, 2026, with profit before tax surging to N3.19bn from N736.56m in Q1 2025. Total comprehensive income also grew significantly to N3.08bn, despite a foreign exchange loss of N104.83m. The fund manager announced its 21st consecutive quarterly dividend distribution, with Series 1 to 4 investors receiving N1.92 per unit and Series 5 investors receiving N1.50 per unit. As of March 31, 2026, NREIT's total assets stood at N205.89bn, up from N197.00bn in December 2025, and net assets attributable to unitholders closed at N189.86bn.
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