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Homeless accommodation investor Home REIT PLC said on Thursday it acquired 156 properties for £42.4 million.
The properties, located across England, will provide an additional 603 beds and bring the portfolio total to 8,556, Home REIT explains.
Partner at Alvarium Home REIT Advisors Ltd Gareth Jones said: ‘Since inception we have developed a strong track record for deploying funds available to us efficiently and, more importantly, prudently, using our existing relationships to access suitable investment opportunities off market.’
Home REIT deployed a total of £700 million at a weighted average net initial yield of 5.86% since it was founded.
The company announced a interim dividend of 1.37 pence per share.
Home REIT shares were up 0.4% at 121.47 pence each on Thursday afternoon in London.
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