AEW re-tenants 10% of Home REIT portfolio as rent collection falls to 3%

More tenant liquidation expected

Valeria Martinez
clock • 3 min read

Home REIT’s new investment manager AEW has completed lease surrenders and re-tenanting on 10% of the trust’s property portfolio, as rent collection fell to 3% in September.

In its second monthly update today (2 October), the trust said rent collection fell to 3% during the month, down from 7% in the three months to August, as some tenants' financial strength continued to deteriorate.  "AEW continues to assess strategies for non-performing tenants and continued non-payment of rent by some tenants and will consider all actions available to the company to improve rent collection in future periods," the board said.  The trust no longer has any exposure to Redemption Project CIC, one of its non-performing tenants that had not paid any rent for 2023, after it ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot