NREIT surpasses 120 assets after ₦7bn raise, following the successful completion of its Series 5 fundraising exercise, which strengthened the real estate investment trust’s portfolio and liquidity position. The expansion marks a significant milestone for the Shariah-compliant fund as it continues to grow its presence in Nigeria’s property market.
According to its first-quarter financial statement submitted to the Nigerian Exchange Group, the newly raised capital was used to complete strategic property acquisitions and support working capital needs. Part of the proceeds was deployed to settle the outstanding balance for an additional warehouse facility at the Lagos Free Zone.
Following the capital injection, the trust’s portfolio has grown to more than 120 assets. The holdings include four industrial facilities occupied by blue-chip corporate tenants and 119 corporate residential units leased to diplomatic and corporate occupants on dollar-denominated rental agreements.
The asset expansion coincided with strong financial performance in the first quarter of 2026. Profit before tax increased substantially to ₦3.19 billion, compared with ₦736.56 million recorded during the corresponding period of 2025. Total comprehensive income also rose significantly despite the fund recording a foreign exchange loss during the quarter.
Supported by improved cash inflows, the fund manager announced its 21st consecutive quarterly dividend distribution since inception. Eligible investors are expected to receive payouts under an approved structure that provides different distributions for existing and newly subscribed units, with payments made in the currencies in which rental income was generated.
As of March 31, 2026, the trust’s total assets stood at ₦205.89 billion, up from ₦197 billion recorded at the end of December 2025. Net assets attributable to unitholders closed the quarter at ₦189.86 billion, highlighting continued growth in the fund’s financial position and asset base.
