Grit Real Estate Income Group Announces Asset Disposal and Strategic Update

Grit Real Estate Income Group continues to focus on its diversified property portfolio, emphasizing US$ and Euro-denominated long-term leases with multi-national tenants. The Board remains committed to a 12%-15% medium-term annual total return, targeting resilient sectors with lucrative development margins.

The Board has accelerated non-core asset disposals to reinforce the balance sheet. Notably, non-binding heads of terms have been signed for the sale of Tamassa resort in Mauritius, at a net initial yield of 6.5%. Additionally, the Group is in preliminary talks to divest four more non-core assets.

Proceeds from these disposals will primarily reduce expensive debt. The company is also exploring a merger of its Diplomatic Housing assets with Verdant Ventures to increase scale and sector presence.