Home Reit Plc

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Residential REITs

Delayed London S.E. Other stock markets 01:00:01 03/01/2023 pm IST			5-day change	1st Jan Change
38.05 ^GBX	-.--%		-.--%	-.--%

03/07	EARNINGS AND TRADING: ActiveOps makes profit; Contango gets investment	AN
21/06	Home REIT Sells 133 Properties for GBP11 Million	MT

Home REIT sells 133 properties at auction for GBP11.4 million

June 21, 2024 at 02:38 pm IST

(Alliance News) - 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 GBP11.4 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.

By Elijah Dale, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Home Reit Plc

EARNINGS AND TRADING: ActiveOps makes profit; Contango gets investment	03/07	AN
Home REIT Sells 133 Properties for GBP11 Million	21/06	MT
Home REIT sells 133 properties at auction for GBP11.4 million	21/06	AN
Home REIT board to consider "more extensive realisation strategy"	17/06	AN
Home REIT Plc Announces the Appointment of Rod Day as Independent Non-Executive Director, Chair of Audit Committee, Member of Management Engagement Committee and Nomination Committee	07/06	CI
Home REIT notes tenant of properties enters administration	04/06	AN
EARNINGS AND TRADING: First Tin "consolidates" holdings in Taronga	30/05	AN
Home REIT sells 5% of property portfolio amid investor fraud case	10/05	AN
Home REIT Sells 76 Properties for GBP15 Million	10/05	MT
An unknown buyer acquired 76 properties from Home Reit Plc for £14.6 million.	10/05	CI
Home REIT cuts borrowings, Genflow shares restored	09/05	AN
Embattled Home REIT sells further 65 properties for GBP16 million	19/04	AN
An undisclosed buyer acquired 65 Properties from Home Reit Plc for £15.9 million.	19/04	CI
Home REIT begins legal action against former investment fund manager	18/04	AN
Home REIT Vows Defense Against Allegations of Misleading Investors	18/04	MT
Home Reit plc Announces Appointment of Peter Williams as Senior Independent Non-Executive Director	02/04	CI
EARNINGS AND TRADING: Northamber loss widens; Ethernity contract boost	28/03	AN
Home REIT continues to aim for shares restoration as annual rent falls	07/03	AN
Home REIT sells further GBP5.6 million in properties at cut price	15/02	AN
Home REIT Sells 117 Properties at Auction	15/02	MT
Home REIT "will cooperate fully" as FCA starts long-awaited probe	13/02	AN
UK's FCA starts probe into Home REIT	13/02	RE
Home REIT plc Announces Notification of Investigation by the Financial Conduct Authority	13/02	CI
Home REIT sells further 103 properties for GBP6.6 million	24/01	AN
Home REIT Auctions 103 Properties	24/01	MT

Home REIT plc funds the acquisition and creation of properties across the United Kingdom that are dedicated to providing accommodation to homeless people. The Company's investment objective is to stabilize its financial condition through initiatives to maximize income and capital returns by investing in a portfolio of United Kingdom residential real estate. It will invest in assets directly or through holdings in special purpose vehicles and will seek to acquire properties. The Company will look to appoint specialist third-party service providers for the delivery of repairs, refurbishment, fire safety and building maintenance services where required. It will neither undertake any direct development activity nor assume direct development risk. The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company's investment manager is AEW UK Investment Management LLP.

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Residential REITs

Calendar

07/11/2024 - Q4 2024 Earnings Release (Projected)

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