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Home REIT Acquires 156 UK Properties for GBP 42.4m.

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Vincent

MANews-(C)2009-2022

UK-based real estate investment trust Home REIT plc (LSE: HOME), which funds the acquisition and creation of properties across the UK that are dedicated to providing accommodation to homeless people, has acquired 156 additional properties for an aggregate purchase price of GBP 42.4m (USD 52.4m), the company said.

Following the latest tranche of investments, since inception the company has deployed a total of GBP 0.7 bn at a weighted average net initial yield of 5.86%, ahead of the company's initial forecast and in-line with the company's strict investment criteria, providing much needed accommodation for vulnerable homeless people across England and Wales.

On 25 January 2022, the company announced that the net proceeds of its significantly oversubscribed GBP 350m equity issue in September 2021 had been fully deployed.

The properties are located across England, providing an additional 603 beds for those in need, whilst bringing the portfolio total to 8,556 and further enhancing its geographic diversification.

They are let on an average lease length of 25 years at low and sustainable rents, on new, unbroken, full repairing and insuring leases to seven different specialist registered...

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