Last checked at 24 Jan 2024 07:00
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
FOR IMMEDIATE RELEASE
24 January 2024
Home REIT plc
("Home REIT" or the "Company")
Property Sales
The Company announces that at a public auction held on the 23 January 2024, the Company has exchanged on the sale of a further 103 properties (representing 4.8% of the portfolio by number) (the "Sale Properties"). Gross proceeds for the sales were £6.6m representing 1.6% of the Company's portfolio by value (based on JLL's August 2023 draft valuation), with completion expected in approximately one month's time.
The gross proceeds from the Sale Properties are £0.6m (8.4%) below the draft August 2023 values, however positive and negative variations between the sales price and draft valuation are to be anticipated.
Sale proceeds will be used to reduce borrowings and provide working capital.
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 Adviser) Dido Laurimore Eve Kirmatzis Oliver Harrison | HomeREIT@fticonsulting.com +44 (0)20 3727 1000 |
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.