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Birmingham based Real Estate Investors (LON:RLE) has been boosted by a clutch of property sales which amounted to over £9.5mln.
These sales include 85/89 Colmore Row in Birmingham for £7.850mln; 770-772 Bristol Road, Northfield,£1.425m; and 150 Birmingham Road in West Bromwich for £250,000.
Chief executive Paul Bassi told investors: "We have completed our asset management on these properties and have made sales at values significantly above our cost and book value, which is in accordance with our strategy.
"Our acquisition pipeline remains positive and we are experiencing increased occupier demand across our portfolio."
Broker Liberum noted the sales were expected, having been flagged late last year but delayed to allow for the firm's conversion to a REIT (real estate investment trust) in December last year.
It rates the shares a 'buy' targeting 67p - 2.5p more than the current price of 64.5p.
The shares trade on a multiple of 1.04 times price to net asset value (P/NAV) for 2015 estimates compared to the UK real estate sector as a whole on 0.96 times, it noted