Home REIT investment adviser distances from trust ahead of Nasdaq listing

Agreed on 30 December 2022

Home REIT’s investment adviser has sold off the division in charge of managing the company, in an attempt to create some distance between itself and the troubled social housing trust.

In an RNS notice today (4 January), Home REIT stated that Alvarium RE Limited had entered into an agreement to sell Alvarium Home REIT Advisors Limited (AHRA), the investment advisor to the embattled REIT, on 30 December 2022 to a newly formed entity also owned by the management of AHRA. It was sold for £24m, according to a securities filling, and the new arrangement will be funded by a promissory notice. In the RNS statement, Home REIT said the deal was made prior to Alvarium's recently completed merger with Cartesian Growth Corporation and Tiedemann Group, which was finalised yester...