Second largest Home REIT tenant begins wind-up process as investment policy vote looms
According to the most recently available filings, Supportive Homes CIC was the trust’s second-largest tenant, representing 10.4% of the rent roll and 1,020 beds.
A first Gazette notice for compulsory strike-off has been filed for the community interest company, with a document being processed and expected to be available in 10 days.
This notice informs any outstanding creditors of the company that it will imminently be struck off the Companies House register and dissolved, unless an objection is received within two months.
Two Home REIT tenants enter creditors' voluntary liquidation
According to the most recent public disclosure of Home REIT's top tenants in November 2022, Supportive Homes CIC was the trust's second largest tenant, representing 10.4% of the rent roll and 1,020 beds.
Home REIT has been contacted for comment.
At the start of August, the former FTSE 250 trust revealed tenants Redemption Project CIC and Serenity Support CIC, which represented 12% of demanded rent in June, had entered into creditors' voluntary liquidations.
Redemption Project CIC's liquidation marked the second tied to Gurpaal Singh Judge, who is listed as a director of the vehicle and was also a director of Lotus Sanctuary CIC, to enter a creditors' voluntary liquidation, following Gen Liv UK CIC in March 2023.
Home REIT nears loan covenant breach as rent collection faces further deterioration
AEW, which has replaced Alvarium as the trust's investment adviser, has proposed changes to the investment policy to allow it to «take steps to assess and stabilise the property portfolio and improve rent collection».
The proposed investment policy overhaul is an attempt to remedy the trust's rent collection issues, which have continued to
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