Home REIT PLC Property Sales (3777X)
20 Dezember 2023 - 8:01AM
UK Regulatory
TIDMHOME
RNS Number : 3777X
Home REIT PLC
20 December 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
20 December 2023
Home REIT plc
("Home REIT" or the "Company")
Property Sales
The Company announces that at a series of public auctions held
over the last five days, the Company has exchanged on the sale of a
further 80 properties (the "Sale Properties"), representing 3.6% of
the Company's portfolio by number, for GBP16,238,000 with
completion expected in approximately one month's time. The majority
of the assets by value were included in an auction which took place
on the 19 December 2023.
The Sale Properties, the majority of which are vacant and are
expected to require significant capital expenditure, have been
selected by AEW as Investment Manager to the Company. Of the
properties exchanged for sale, 48 properties were subject to leases
with tenants in liquidation which will be surrendered prior to
completion. The proceeds from the Sale Properties represented an
average of 33% per cent of their purchase price. Sale proceeds will
be used to reduce borrowings and provide working capital as part of
AEW's strategy to stabilise the property portfolio.
The person responsible for arranging the release of this
announcement on behalf of the Company is FTI Consulting.
FOR FURTHER INFORMATION, PLEASE CONTACT:
FTI Consulting (Communications HomeREIT@fticonsulting.com
Adviser) +44 (0)20 3727 1000
Dido Laurimore
Eve Kirmatzis
Ellie Perham-Marchant
Oliver Harrison
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website:
www.homereituk.com
Inside Information
The information contained within this announcement is deemed by
Home REIT to constitute inside information as stipulated under the
Market Abuse Regulation (EU) no. 596/2014 (as it forms part of
domestic law by virtue of the European Union (Withdrawal) Act
2018). On the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to
be in the public domain.
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END
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