Home REIT offloads 137 properties at average 68% loss
Of the total 137 properties sold, 100 were subject to leases with tenant in liquidation, which will be surrendered prior to completion.
At a series of auctions over the past eight days, Home REIT sold 5.6% of the company's portfolio by number for £22.8m, an average of just 32% of the properties' purchase prices.
The majority of the assets by value were auctioned yesterday (28 September) and are expected to complete in roughly a month's time.
Home REIT sells 40 properties for 60% average loss
AEW selected a portfolio of properties that were in «poor condition, largely vacant and requiring significant capital expenditure to be brought up to specification».
Of the total 137 properties sold, 100 were subject to leases with tenant in liquidation, which will be surrendered prior to completion.
This marks the second property sales update from Home REIT, which offloaded 40 properties at an average 60.6% loss in August.
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