Home REIT in talks with Patron Capital over £123m portfolio sale
Home REIT PLC confirmed on Thursday that it has entered into an exclusivity agreement with Patron Capital for the disposal of the majority of its portfolio of assets.
Responding to recent press speculation, the social housing investment trust said that although the terms of the disposal are not yet finalised, the indicated price is £123m for about 700 of its 853 properties.
The remaining properties in the portfolio were valued at £18.25m at the end of August.
"While discussions are ongoing with Patron Capital, there can be no certainty that a transaction will be agreed upon or as to the final terms of any such agreement, and this update should not be construed as announcing a transaction," Home REIT said.
"The board is committed to maximising value for shareholders and will provide a further update when appropriate."
The sales process is expected to conclude in the final quarter of this year or early 2026.
Trading in Home REIT shares has been suspended since January 2023 after it missed a deadline to publish its annual report.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
