Home REIT is considering “all strategic options” including the possible sale of the firm following a spate of issues at the trust, including the non-payment of rent by more than 75% of its portfolio.
In a stock exchange announcement today (16 February), the company revealed there had been a "serious deterioration" in rent payments over the quarter ending November 2022, with just 23% of rent collected. Home REIT suspends shares The firm also highlighted "serious challenges" in rent collection for December 2022 and January 2023, adding that it is "not possible to quantify the future amounts of rent to be collected with certainty". On top of rent issues, the properties themselves require refurbishment, with at least 25% of the total trust's holdings by beds requiring "at least som...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
