| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Home REIT acquires 11 property portfolios for £69.5 million
StockMarketWire.com
|
Real Estate investment company Home REIT said it had acquired a further 11 separate portfolios of properties located across England for a combined £69.5 million.
The properties added a further 798 beds across 171 properties, providing much needed accommodation for the vulnerable homeless people in Yorkshire and the Humber, the East Midlands, the South West, London, the South East, the West Midlands, and the North West, the company said.
'Each of the Properties is immediately income producing and the blended net initial yield of the Company's portfolio following the acquisition of the Properties is ahead of expectations,' it added.
The company said it had now deployed over £184 million of total capital since its IPO, representing 78% of the net proceeds raised at IPO.
The company was in advanced negotiations on a significant pipeline of attractive assets to allow for the efficient deployment of its remaining IPO proceeds of about £48 million and the recently announced debt facility of £120 million, in-line with expectations.
Story provided by StockMarketWire.com
|
|
|
|
|
|
