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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
10 May 2024
Home REIT plc
("Home REIT" or the "Company")
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 £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 are 12.4% below the draft August 2023 values.
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 £125.8m, which in aggregate is in line with the August 2023 draft valuation.
Sale proceeds will be used to reduce borrowings and provide working capital.
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.
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