In QuotedData’s morning briefing 24 January 2024:
- Home REIT (HOME) has sold a further 103 properties at auction for £6.6m as the manager attempts to stabilise the portfolio. The sales price was 8.4% below the August 2023 valuation [there was no mention on the discount to acquisition cost (as has been the case in previous announcements) but the wider portfolio was marked down 57.7% from its acquisition cost at August 2023 so we can assume another depressingly sizeable write down on cost]. Sales proceeds will be used to reduce borrowings and provide working capital.