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Home REIT acquires 11 property portfolios in England for £48.1m
StockMarketWire.com
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Homeless accommodation investor Home REIT said it had acquired a further 11 separate portfolios of properties located across England for a combined £48.1 million.
The deal, in combination with those announced previously, represented the full investment of net proceeds from the company's £240 million initial public offering on 12 October.
Its combined portfolio comprised 572 completed or unconditionally exchanged properties, representing a weighted average net initial acquisition yield of 5.83%.
'The company has significant remaining resources available through its previously announced 12-year £120 million debt facility, allowing it to continue to make further investments,' it added.
Home REIT said the newly acquired portfolios added a further 543 beds across 83 properties in London, North East, North West, South East, South West and West Midlands regions of England.
At 9:59am: (LON:HOME) Home Retail Group PLC share price was 0p at 102.2p
Story provided by StockMarketWire.com
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