Social housing REIT makes healthy profit
0A social housing real estate trust in which East Riding Council Pension Fund has £20m invested has provided a 10.7% shareholder return in its first year of trading. The Civitas Social Housing real estate investment trust (REIT) made a profit of £36.9m in its first year of trading, according to results issued last week.
Rental income on its properties was £18.6m in the year to 31 March, while the value of investment properties was £30.6m.
The REIT was created in 2016 to raise private capital to invest in social housing in England and Wales.
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