Home REIT PLC has announced that it has exchanged on the sale of 76 properties in its portfolio, following a public auction. The London-based real estate company expects to generate c. €17m from the sales, which is 12% below August valuations.
This round of divestment represents 4.5% of Home REIT's portfolio and brings the company's total proceeds from the 585 sold and 262 exchanged properties since August 2023 to c. €147.2m.
However, legal proceedings against Home REIT are still ongoing, as the company is facing claims that it provided investors with "false, untrue and/or misleading" information. In response to these allegations, Home REIT has denied the claims and intends to defend itself vigorously.
As a result of the ongoing legal proceedings, Home REIT shares are currently suspended from trading in London.
Image source - Pexels.
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