07:00 Mon 16 Nov 2020
Home REIT PLC - Acquisitions and Confirmation of REIT Status
HOME REIT plc
("Home REIT" or the "Company")
ACQUISITIONS AND CONFIRMATION OF REIT STATUS
The Board of Home REIT plc (ticker: HOME), which funds the acquisition and creation of high-quality properties across the
The Board is also pleased to announce that Home REIT recently became a group UK Real Estate Investment Trust.
"Since listing on
The Properties will provide new, high quality accommodation to vulnerable, homeless people in need of housing, delivering critical solutions for women fleeing domestic violence, vulnerable women, prison leavers, and those faced with homelessness due to poverty.
Each Property is immediately income producing and the blended net initial yield of the Properties is ahead of the Company's target level.
Each of the Properties is let at a low and sustainable rental level, on new, unbroken 25-year full repairing and insuring ("FRI") leases to six different specialist registered homeless charities and one housing association, providing them with long term security of tenure. The charities and the housing association, regulated by the Charities Commission and Regulator of Social Housing, respectively, will provide specialist care, training, support and rehabilitation to the vulnerable homeless people at the Properties.
The rents received under these leases are subject to annual upward-only rent reviews, index-linked to the Consumer Prices Index, subject to an annual collar and cap of 1% and 4%, respectively.
The Company is in advanced legals on a significant pipeline of assets to allow for the efficient deployment of its IPO proceeds in line with expectations, with further acquisition announcements expected to be made in short order.
Portfolio 1, purchased for
Portfolio 2, purchased for
Portfolio 3, purchased for
Portfolio 4, purchased for
Portfolio 5, purchased for
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alvarium Home REIT Advisors Limited |
Via Maitland/AMO below |
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Alvarium Securities Limited |
Tel: +44 (0) 207 016 6711 +44 (0) 207 016 6723 +44 (0) 207 016 6710 |
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Maitland/AMO (Communications adviser) |
Tel: +44 7747 113 930 Email: homereit-maitland@maitland.co.uk
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The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website: www.homereituk.com
About Home REIT plc
Home REIT plc seeks to contribute to the alleviation of homelessness in the
There is a critical need for further accommodation for the homeless in the
The Company focuses on investing in and creating well-located properties that provide a sustainable level of rent for the tenant. Within the homeless accommodation assets, there is a focus on care, support, training and rehabilitation to provide individuals with the skills and confidence to find long-term accommodation and enable them to reintegrate back into society. Savings are expected to be made to local authorities and other providers of accommodation to the homeless via lower rents versus more expensive alternative accommodation.
Alvarium Home REIT Advisors Limited, the Company's Investment Adviser, is proud to be working in collaboration with Crisis to help support Crisis in ending homelessness.
The Company is listed on the premium segment of the Official List of the UK Financial Conduct Authority and its Ordinary Shares were admitted to trading on the main market of the London Stock Exchange, premium segment, on
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