Home REIT has acquired five portfolios across England for £41.6m, including its first assets in London.
Two properties in west London have been acquired for £5.8m; a portfolio of 22 properties across the West Midlands, North West and Yorkshire has been bought for £9.2m; a portfolio of nine properties across the North West of England has been purchased for £5.1m; a portfolio of six properties in Yorkshire and Humber has been bought for £2.7m; and a portfolio of 97 properties across the North East has been acquired for £18.8m.
All homes will provide accommodation for homeless people in need of housing, women fleeing domestic violence and other vulnerable women, prison leavers, and those facing homelessness due to poverty.
All properties are let on 25-year leases to either homelessness charities or housing associations.
The REIT said it is in advanced legals for a “significant pipeline of assets” and further announcements will be made soon.
Jamie Beale, partner at Alvarium Home REIT Advisors, said: “The properties will address a critical need within local communities to provide housing solutions at low sustainable rents to registered charities who are proven to make a difference to the people they house, care for and support.”
See also: The EG Interview: Home REIT on using private capital for public good
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