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RNS Number : 3777X Home REIT PLC 20 December 2023
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
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
20 December 2023
Home REIT plc
("Home REIT" or the "Company")
Property Sales
The Company announces that at a series of public auctions held over the last
five days, the Company has exchanged on the sale of a further 80 properties
(the "Sale Properties"), representing 3.6% of the Company's portfolio by
number, for £16,238,000 with completion expected in approximately one month's
time. The majority of the assets by value were included in an auction which
took place on the 19 December 2023.
The Sale Properties, the majority of which are vacant and are expected to
require significant capital expenditure, have been selected by AEW as
Investment Manager to the Company. Of the properties exchanged for sale, 48
properties were subject to leases with tenants in liquidation which will be
surrendered prior to completion. The proceeds from the Sale Properties
represented an average of 33% per cent of their purchase price. Sale
proceeds will be used to reduce borrowings and provide working capital as part
of AEW's strategy to stabilise the property portfolio.
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) HomeREIT@fticonsulting.com
Dido Laurimore +44 (0)20 3727 1000
Eve Kirmatzis
Ellie Perham-Marchant
Oliver Harrison
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website: www.homereituk.com
(http://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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