|
Home REIT PLC on Friday announced the sale of properties as part of its ongoing efforts to reduce company debt. The London-based real estate company, which invests in social housing across the UK, began selling properties in August. Today Home REIT announced it had exchanged on the sale of an additional 133 properties following public auctions held over the last two days. Gross proceeds from the sales totalled £11.4 million, representing 3.7% of the company’s portfolio and 7.8% below the draft valuations from August 2023. Since initiating the disposal programme, Home REIT said 774 properties have been sold with a further 205 exchanged. Proceeds will continue to be used to reduce borrowings and provide Home REIT with working capital. Home REIT shares have been suspended since January 2023, after the company failed to publish its annual report. They last traded at 38.05 pence each on January 3. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
