10th May 2024 14:19
(Alliance News) - Home REIT PLC on Friday announced that following a public auction it had exchanged on the sale of 76 properties in its portfolio.
The London-based real estate company said it will generate GBP14.6 million from the sales, 12% below August valuations.
This latest round of divestment represented 4.5% of Home REIT's portfolio, and brings the company's total proceeds from the 585 sold and 262 exchanged properties since August 2023 to GBP125.8 million.
Legal proceedings against Home REIT remain ongoing following claims that the company provided information to investors which was "false, untrue and/or misleading."
"The company intends vigorously to defend itself in respect of the threatened litigation and has denied the allegations made against it," Home REIT said.
Home REIT shares are currently suspended from trading in London.
By Elijah Dale, Alliance News reporter
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