NREIT SURPASSES 120 ASSETS AFTER SUCCESSFUL N7BN CAPITAL RAISE

The Chapel Hill Denham Nigeria Real Estate Investment Trust (NREIT) has significantly expanded its portfolio, crossing the 120-asset milestone following a successful N7 billion fundraising exercise under Series 5.

According to the Shariah-compliant fund’s first-quarter 2026 financial statements submitted to the Nigerian Exchange Group, the fresh capital was strategically deployed to complete key acquisitions and strengthen liquidity.

 Proceeds helped settle the balance for an additional warehouse facility at the Lagos Free Zone, with the remainder allocated to working capital needs.

NREIT’s diversified holdings now include four standard industrial facilities leased to blue-chip corporate tenants and 119 corporate residential units occupied by diplomatic and corporate residents, many paying in dollar-denominated rentals. This mix provides stable, inflation-resilient income streams in Nigeria’s challenging economic environment.

The expansion coincides with robust financial performance. Profit before tax for the quarter ended March 31, 2026, surged to N3.19 billion from N736.56 million in the corresponding period of 2025. Total comprehensive income rose to N3.08 billion, despite a foreign exchange loss of N104.83 million.

 Total assets grew to N205.89 billion from N197 billion at the end of December 2025, while net assets attributable to unitholders stood at N189.86 billion, with a Net Asset Value of N114.60 per unit.

In recognition of strong cash flows, the fund manager declared its 21st consecutive quarterly dividend. Eligible unitholders as of April 23, 2026, will receive payments on June 29, 2026  N1.92 per unit for Series 1–4 investors and N1.50 per unit for new Series 5 participants, payable in the currency of rental income earned.

This latest achievement underscores NREIT’s position as a leading vehicle for institutional and retail investors seeking exposure to high-quality, income-generating real estate in Nigeria. Analysts expect the expanded portfolio to drive further growth amid rising demand for premium commercial and residential spaces.