Home REIT sells 63 more properties

Home REIT continues to offload assets, selling 63 properties at auction over the past two days. The troubled REIT, set up to invest in accommodation for the homeless, said proceeds from the sales stood at £6.1m, 7.7% below their August 2023 valuation. Home REIT will use the proceeds to cut borrowing and provide working capital. Since August 2023, the company has completed the sale of 451 properties and exchanged on a further 257. The gross proceeds from properties sold and exchanged stands at £95.5m.