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Triple Point Social Housing REIT PLC on Friday said it completed the sale of four specialised supported housing properties for an aggregate £7.6 million. The London-based real estate investment trust said it sold the assets to an unnamed private UK real estate investment firm, with the price reflecting a gain of £663.136, or 9.6%, against the aggregate purchase price, excluding transaction costs. The price was 3.8% below the portfolio’s book value of £7.9 million at June 30, Triple Point Social Housing said. ‘The sale demonstrates continued liquidity, and the resilience of valuations in the specialised supported housing sector,’ said Chair Chris Phillips. The company said it will determine the best use of the sale proceeds after publishing its interim results on Thursday next week. This may include the repayment of debt or the return of capital to shareholders via further share buybacks or a combination of both, Triple Point Social Housing said. In April, Triple Point had announced a share buyback programme worth up to £5.0 million. Shares in Triple Point Social Housing were up 2.2% to 57.97 pence each in London on Friday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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