Qualitas Real Estate Income Fund (ASX:QRI) enters trading halt

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  • Real estate investment trust Qualitas Real Estate Income Fund (QRI) has entered a trading halt ahead of an upcoming capital raise
  • So far, it is unknown how much the company is aiming to raise or where the funds will be spent
  • Under the halt, QRI shares will be paused until Thursday, April 1, or when further details about the raise are released to the market
  • On the market, QRI last traded for $1.61 per share on March 29

Real estate investment trust Qualitas Real Estate Income Fund (QRI) has entered a trading halt ahead of an upcoming capital raise.

Currently, there are no details on how much the company is aiming to raise or where the funds will be spent.

Under the halt, QRI shares will be paused until Thursday, April 1, or when further details about the raise are released to the market, whichever one comes first.

Qualitas is an Australia-based real estate investment trust. Its objective is to provide monthly income and capital preservation by investing in a diversified portfolio of investments that offers exposure to real estate loans secured by first and second mortgages.

Earlier this month, the company released a performance update for February. This update stated that the unprecedented low-interest rate with the RBA’s stance on not increasing rates over the next few years is driving investors confidence in the property markets and demand for credit.

During the month, the borrower demand increased with the level of inquiry now at its highest level for the calendar year to date.

“The manager considers the continued retreat by APRA regulated banks from commercial real estate lending is being amplified by their general risk and portfolio management issues resulting from COVID-19 concessions made to borrowers across all lending sectors and loan types,” the company said in March.

On the market, QRI last traded for $1.61 per share on March 29.