Investors report trend-bucking results - commercial mortgages

30 April 2008

In news which may interest those seeking commercial mortgages, a real estate investment firm has produced results indicating it is possible for companies to see their assets rise in the current climate.

Birmingham-based Real Estate Investors has reported 3.6 per cent a rise in the value of its assets in the past year, Property Week reports.

Last year saw the company grow the value of its portfolio by £807,000 to £35.3 million, as well as making a profit of £1.77 million.

The profit came after a £420,000 loss in 2006.

Chief executive Paul Bassi told the magazine the company is "well placed to make the most of the opportunities we are constantly striving to identify", revealing that it is looking to build up a £150 million acquisition fund.

Companies already involved in acquiring new commercial property include the Northern Trust Group.

The firm has just paid £2.3 million to acquire a mixed-use office and retail development in Widnes from public-private development partnership Widnes regeneration, the Liverpool Daily Post reports.