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Home REIT PLC - Homeless-focused property developer - Acquires portfolio of five properties in England for GBP9 million, specifically in the North West, North East and Midlands regions.
Acquisition of these properties will allow Home REIT to become a UK real estate investment trust.
"The properties are located in areas where there is a critical need for more homeless accommodation. Each of the properties is let on low and sustainable rents to a registered charity with a proven operating track record in providing accommodation to the homeless and which receives housing benefit or comparable support from local or central government," said Gareth Jones, partner at Alvarium Home REIT Advisors Ltd.
Current stock price: 99.80 pence
Year-to-date change: down 0.2% since listing last Monday
By Dayo Laniyan; dayolaniyan@alliancenews.com
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