Home REIT has deployed a further £60m of the £350m it raised in September.
The 89 properties, which are in 20 portfolios across England, provide 548 beds for those in need, bringing the portfolio total to 7,073 beds. They are let for an average of 25 years to 10 homeless charities.
Home REIT has so far spent £289m of the equity issue, deploying the cash at a net initial yield of 5.9%.
Jamie Beale, partner at Alvarium Home REIT Advisors, said: “In just over a year since inception, we have established Home REIT as a credible and effective solution to what is sadly an endemic challenge in the UK. Alongside this important social impact, we are meeting our targets for our investors, with deployment in line with our expectations, and therefore are pleased with the way we are positioned as this year comes to a close.”
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
