Home Reit has announced the sale of 63 properties totalling £6.1m over the past two days, chipping off another piece of the portfolio which has seen 451 properties sold since August 2023.
The most recent sale, which represented 1.8% of the portfolio’s total value, had proceeds 7.7% below the August valuations.
Home Reit said in a stock exchange announcement this morning (28 March) that the proceeds would be used to “reduce borrowings and provide working capital”.
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In February, Home Reit sold an additional 117 properties for £5.6m and the FCA launched an investigation into the company in the wake of a collapse of its rent roll. In March, Home Reit said it would bring legal proceedings against “those parties it considers are responsible for wrongdoing”.
The company is currently trading on a 70.1% discount.
