‘Downfall’: Home REIT faces SFO probe into suspected bribery and fraud Business The UK’s top financial crime unit has unveiled a major probe into the past management of Home REIT after identifying as much as £300m in suspected fraud and bribery. The Serious Fraud Office (SFO) said it has carried out raids and arrests into the former London-listed social housing company, including searches at homes in Altrincham, [...]
Home REIT: Beleaguered property fund value falls 60 per cent Investing Scandal-hit housing investor Home REIT has published its long-delayed 2023 annual results, revealing its property portfolio has been valued at just 40.7 per cent of its original purchase cost. The results for the year to 31 August 2023 revealed that the value of Home REIT’s assets had decreased by more than a third in a [...]
Home REIT set to pay off Scottish Widows debt in step toward closure Property Scandal-hit homeless housing investor Home REIT said it was on the cusp of paying off its debts to Scottish Widows this morning after offloading swathes of its property portfolio at cut prices this year. In an update to the market today, the former FTSE 250 firm said it had sold another 11 per cent of [...]
Social housing trust taken over by Home REIT’s sister fund manager October 1, 2024 The board of Triple Point Social Housing REIT has replaced its investment manager with a fund house brought in to save the scandal-hit sister fund of Home REIT. In July, City AM revealed that fund house Atrato had been drafted in to drive a turnaround plan at Home Long Income Fund, which was set up [...]
Home REIT sells off another £36.9m of property in wind-down scramble September 30, 2024 Scandal-hit social housing investor Home REIT said it had offloaded another £36.9m worth of property today as it scrambles to clear its debts before winding down. In a statement to the markets, the former FTSE 250 firm said it had sold 200 houses at a series of public auctions last week as part of efforts [...]
Home REIT offloads more houses in scramble to pay off debts August 30, 2024 Scandal-stricken property investor Home REIT has offloaded another chunk of its housing portfolio this week as it scrambles to raise cash and pay off its debts before winding down. In a statement to the market today, the former FTSE 250 firm, set up in 2020 to house the homeless, said it had sold off 101 [...]
Home REIT: Beleaguered trust targets lifting of trading ban August 23, 2024 Home REIT has laid out its plan to apply to the Financial Conduct Authority to restore the trading of its shares, as the beleaguered trust’s chair admitted facing “very significant challenges”. The trust was launched with the intention of providing social housing to the homeless, but has been pummelled with multiple scandals over the last [...]
Exclusive: Phoenix-backed homeless housing firm in turmoil after rental collapse August 22, 2024 The future of a homeless housing investment firm set up in the mould of scandal-hit Home REIT and backed by Phoenix Group is hanging in the balance after a slew of its tenants went bankrupt or stopped paying rent, City A.M. can reveal.
Home REIT sister fund calls in investment manager to lead rescue effort July 23, 2024 A Home REIT sister fund under investigation by the City regulator has called in a new investment manager to try and save it from collapse and salvage tens of millions of pounds of pension cash, City A.M. can reveal.
‘Hoodwinked from IPO onwards’: Home REIT shareholders round on scandal-hit investor over wind-down plans July 17, 2024 Home REIT shareholders have rounded on the firm and its investment manager today after the scandal-hit social housing investor revealed plans to wind down in the coming months.