Union Homes Real Estate Investment Trust

Union Homes investor enjoying dividends on tropical cruise

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Union Homes REIT (UHOMEREIT.NL) is a Real Estate Investment Trust in Nigeria.

Union Homes is paying out 90% of their income as dividends, compared to Skye Shelter Fund which says on its site it will pay 80%. Either that's an error, or Nigerian law says they must pay 80% but Union Homes is paying out 90%.

Their site also says they will be investing in mortgages, so it sounds as though they may be a hybrid REIT that directly owns and manages as properties and also provides financing. Very few REITs outside the United States provide real estate financing. It's a different business than the direct property ownership, rental and management.

Union Homes Savings and Loan Plc was incorporated November 6, 1992. Now it is a chain of banks providing mortgages across Nigeria and also in Ghana. They are based in Lagos.

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