REG - Home REIT PLC - Exchange on sale of 706 asset portfolio for £123m

Home ReitAnnouncement

02/03/2026 07:00

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RNS Number : 7924U  Home REIT PLC  02 March 2026

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

2 March 2026

Home REIT plc

("Home REIT" or the "Company")

Exchange on sale of 706 asset portfolio for £123 million

The Board of Home REIT is pleased to announce a transaction in which it has
exchanged on the disposal of 706 properties, representing the majority of the
Company's portfolio of assets, to Patron Capital for £123.0 million (the
"Transaction").

Completion of the Transaction will be no later than 1 April 2026 and Patron
has paid a cash deposit of £12.3 million upon exchange of contracts, with the
remainder of the consideration to be received in two tranches, comprising of a
payment on completion of £98 million (less the amount received on deposit)
and a deferred payment of £25m, which will be received 12 months from the
date of completion. The deferred consideration is not subject to any
conditions and is secured by a bank guarantee.

The disposal follows an extensive process undertaken by Home REIT and its
advisers which commenced in Q4 2024 with non-binding offers for the portfolio
received in February 2025.

The remaining properties in the Company's portfolio were valued at £17.35
million in the valuation report prepared by Jones Lang LaSalle as at 31 August
2025, and the sales process in relation to the majority of these properties is
expected to conclude in the first half of 2026.

While it remains the aspiration of the Board that capital will be returned to
shareholders upon the completion of the realisation strategy, shareholders
should be aware that the timing and quantum of such distributions remains
highly uncertain. The ability of the Company to make distributions to
shareholders continues to be constrained whilst the Company faces potential
group litigation or other claims. The Board is continuing to work with its
advisers to determine an appropriate mechanism for, and timing of, any return
of capital.

Michael O'Donnell, Non-executive Chair of the company said: "The Board is
committed to securing the best possible result for shareholders, and after an
exhaustive process, we are pleased to have exchanged on a transaction which we
believe is in their best interests. For the Company as a whole there remain
further hurdles to cross, however, the Transaction represents an important
milestone."

FOR FURTHER INFORMATION, PLEASE CONTACT:

 FTI Consulting (Communications Adviser)  HomeREIT@fticonsulting.com (mailto:HomeREIT@fticonsulting.com)

 Dido Laurimore                           +44 (0)20 3727 1000

 Bryn Woodward

 Oliver Harrison

 

The Company's LEI is: 213800A53AOVH3FCGG44.

For more information, please visit the Company's website: www.homereituk.com
(http://www.homereituk.com/)

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