Business
Sale of Four Properties
Sale of Four Properties.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n\n1 September 2023\n \nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\n \nSale of Four Properties\n \nFurther to the Company's trading update announcement on 3 February 2023 (RNS: 8064O), the board of Triple Point Social Housing REIT plc (the \"Board\") is pleased to announce the completion of the sale of four specialised supported housing properties (the \"Sale Portfolio\") for an aggregate consideration of £7,586,600 to a private UK real estate investment firm. The aggregate consideration for the Sale Portfolio reflects a gain of £663,136 (9.6%) against the aggregate purchase price (excluding transaction costs) and is principally in line with the portfolio's book value of c.£7,870,000 as at 30 June 2023.\nThe Sale Portfolio comprised properties located across four Local Authorities and contained a range of property types, lessees and care providers. As at 30 June 2023, the blended NIY of the Sale Portfolio was 5.75% and the WAULT was 19.3 years.\nFollowing the publication of the Group's interim results on 7 September 2023 and feedback from shareholders, the Board will determine the best use of the sale proceeds, which may include the repayment of debt and/or the return of capital to shareholders through further share buybacks.\nCBRE Limited acted for the Group in respect of the transaction.\nChris Phillips, Chair of the Group, said:\n\"The Board is very pleased to have completed the sale of this portfolio of properties for a gain against purchase price and principally in line with its book value. The sale demonstrates continued liquidity, and the resilience of valuations in the specialised supported housing sector.\"\n \nENDS.\n \nFOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:\n \n\n\n\nTriple Point Investment Management LLP\n(Investment Manager)\n\n\nTel: 020 7201 8989\n\n\n\n\nMax Shenkman\n\n\n\n\n\n\n\nIsobel Gunn-Brown\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAkur Capital (Joint Financial Adviser)\n\n\nTel: 020 7493 3631\n\n\n\n\nTom Frost\n\n\n\n\n\n\n\nAnthony Richardson\n\n\n\n\n\n\n\nSiobhan Sergeant\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStifel (Joint Financial Adviser and Corporate Broker)\n\n\nTel: 020 7710 7600\n\n\n\n\nMark Young\n\n\n\n\n\n\n\nRajpal Padam\n\n\n\n\n\n\n\nMadison Kominski\n\n\n\n\n\n\n\n \nBrunswick Group (Fina...