Triple Point Social Housing sells four properties roughly in line with book value

Further share buybacks on the radar

The Triple Point Social Housing (SOHO) REIT has sold four properties roughly in line with the book value of its portfolio, with proceeds earmarked for potential share buybacks or debt repayments.

In a stock exchange notice today (1 September), the board said the assets had been sold to a private UK real estate investment firm for £7,586,600, which is only marginally (c.4%) lower than the aggregate book value of £7,870,000 at 30 June.  The properties were sold at a gain of £663,136 (9.6%) against the purchase price and comprise a range of property types, lessees and care providers. At 30 June, the assets had a blended net initial yield of 5.75% and weighted average unexpired lease term (WAULT) of 19.3 years.  Following the release of the REIT's interim results due on 7 Septembe...