The trust said it expects the exchanges to be completed within a month, as they represent around 1.4% by value of its portfolio.
FCA opens investigation into Home REIT
Home REIT noted the gross proceeds for the properties are £1.02m lower than the draft values in August 2023, representing a 15.5% drop.
The money derived from the sale of the properties will be used to “reduce borrowings and provide working capital”, it said in a stock exchange filing today (15 February).
An additional property is expected to be entered into a public auction today.
Earlier this week, the Financial Conduct Authority commenced its investigation into the embattled trust, a year after Home REIT’s shares were suspended.
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