Home REIT has acquired a further 14 separate portfolios of properties located across England for a total of £47 mln (€55 mln), including acquisition costs.
Following these deals, the company has fully invested the net proceeds of its £240 mln IPO and over 40% of its £120 mln 12-year debt facility, the remainder of which has been fully allocated to further identified properties. The company’s combined portfolio comprises 603 properties, with a weighted average net initial acquisition yield of 5.8%.
The assets add a further 314 beds across 31 properties in London, North West, East, East and West Midlands, South East and South West regions of England.
Jamie Beale, partner at Alvarium Home REIT Advisors Limited, said: ‘The Company has continued to responsibly deliver on its objectives and perform strongly since its IPO in October 2020, achieving significant on the ground positive social impact whilst driving attractive sustainable returns to our shareholders.’
