Published: Jan. 8, 2024 at 2:19 a.m. ET
By Joe Hoppe
Home REIT said it collected 12% of the rent invoiced for the month of December, after investment manager AEW UK Investment Management made further progress obtaining control over its assets from non-performing tenants.
The real-estate investment trust said Monday that auction sales have continued, having agreed sales on a further…
By Joe Hoppe
Home REIT said it collected 12% of the rent invoiced for the month of December, after investment manager AEW UK Investment Management made further progress obtaining control over its assets from non-performing tenants.
The real-estate investment trust said Monday that auction sales have continued, having agreed sales on a further 81 properties for 16.4 million pounds ($20.9 million) in December, with completion expected in January.
Total borrowings were reduced to GBP172.7 million, from GBP198.3 million a month prior. The company’s cash balances at Dec. 31 stood at GBP15.8 million, of which GBP5.4 million is unrestricted.
Home REIT had said in early September that AEW engaged with all of its tenants and carried out a number of actions to begin inspecting and valuing its portfolio. It said the manager was focused on stabilizing Home REIT’s property portfolio and financial condition, and planned to maximize income and capital returns.
Write to Joe Hoppe at joseph.hoppe@wsj.com
