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10 May 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
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10 May 2024
Home REIT plc
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("Home REIT" or the "Company")
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Property Sales
The Company announces that at a public auction held on the 9 May, the Company has exchanged on the sale of a further 76 properties (the "Sale Properties"). Gross proceeds for the sales were Ā£14.6m, representing 4.5% of the Company's portfolio by value (based on JLL's August 2023 draft valuation). The gross proceeds from the Sale Properties areĀ 12.4% below the draft August 2023 values.
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Since August 2023, the Company has completed on the sale of 585 properties and exchanged on a further 262 properties. The gross proceeds from properties sold and exchanged totals Ā£125.8m, which in aggregate is in line with the August 2023 draft valuation.
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Sale proceeds will be used to reduce borrowings and provide working capital.
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FOR FURTHER INFORMATION, PLEASE CONTACT:
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FTI Consulting (Communications Adviser) Dido Laurimore Eve Kirmatzis Oliver Harrison | HomeREIT@fticonsulting.com +44 (0)20 3727 1000Ā |
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The Company's LEI is: 213800A53AOVH3FCGG44.
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For more information, please visit the Company's website:Ā www.homereituk.com
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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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