Alpha Real Trust has released its results for the year ended 31 March 2014. Over the year its net asset value barely moved – falling from 107.6p to 107.0p. It declared dividends of 2.1p for the period and intends to move to quarterly dividends this year.
Alpha real trust made a mezzanine loan to Alpha UK Real Estate Fund and provided subordinated debt to Alpha UK Multi Property Trust (the latter at a rate of 15%). The security of ARTL’s loan to its Norwegian Europip investment has improved as senior tranches of bank debt have been repaid. ARTL has also been working to improve leasing activity at its Spanish shopping centre, H2O.