Home REIT PLC - London-based homeless accommodation investor - Adds 998 beds, for GBP92.3 million, to portfolio since oversubscribed GBP263 million placing in May. Portfolio total now at 9,554 beds across 1,951 properties.
Notes properties let on an average lease length of 25 years at low and sustainable rents, on new, unbroken, long term, full repairing and insuring leases to specialist registered homeless charities.
Gareth Jones, partner at Alvarium Home REIT Advisors, adds: "These transactions represent swift deployment of the equity we raised in an oversubscribed fundraise at the end of May into assets producing long-term, sustainable income."
Current stock price: 110.88 pence
12-month change: up 0.8%
By Paul McGowan; paulmcgowan@alliancenews.com
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Home Reit (HOME)