Custodian Property Income REIT (CREI) is in the process of acquiring the entire issued share capital of Merlin Properties which will give the trust access to the latter’s £22.1m portfolio of properties.
This includes around £19.4m of 28 smaller lot-size regional UK investment properties which complement the trust's current assets, as well as £2.7m of newly built housing stock, due to be sold "in the next few months". Home REIT expects full sale of assets to be completed in Q3 2025 The transaction is expected to bolster CREI's earnings per share and dividend cover, increase tenant diversification and cut down on the trust's ongoing charges ratio and net gearing. According to a stock exchange notice today (2 June), Merlin has no borrowings and the sale of its £2.7m portfolio of...
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