Concerns mount over potential fire sale of Home REIT properties as liquidity shrinks

'A step backwards'

Further signs of crisis have emerged at Home REIT after it revealed it was considering selling some of its properties to stabilise the business, which has raised concerns over a potential fire sale of assets amid shrinking liquidity.

In a stock exchange notice yesterday (5 April), the embattled trust said it "continues to explore all available options" and is "giving particular consideration" to the potential sale in the near-term of a limited number of properties.  Home REIT said any sales would be conducted to "stabilise" its property portfolio, as the trust contends with rent defaults, a hefty refurbishment bill and potential valuation write-downs, following a damning report by short-seller Viceroy Research last November. Jennifer Morrissey, partner at Harcus Parker, a law firm that launched a claim on behalf o...