Midlands-focused property company Real Estate Investors (LON:RLE) has raised £4.0mln through the sale of two non-core properties from its portfolio.
The company has sold a property in Surrey for £2.5mln and one in Watford for £1.5mln, with both values being higher than the ones booked in the company’s accounts.
"These recent sales are debt free and non-core,” said chief executive, Paul Bassi.
“The capital receipts will provide additional funds to capture criteria compliant property in our current pipeline of acquisitions, where we have over £20 million of new purchases under offer or in legal process. In line with our strategy, we remain on track to grow our portfolio to in excess of £200 million within the next six months," he added.