Home REIT completes sale of 706 properties to Patron Capital

UK-based Home REIT has completed the sale of 706 residential properties to Patron Capital for £123 mln (€144 mln).

Michael O’Donnell

An initial £98 mln (€114 mln) has been received, with a further £25 mln (€29 mln) due in April 2027.

The remaining 144 properties in their portfolio are also being sold, with most expected to be finalised in the first half of 2026.

Following these sales, the company's main focus is now on returning capital to shareholders. However, due to ongoing potential litigation and associated costs, the company plans to return capital through a liquidation process. This process is intended to be efficient and transparent, and it will not prevent the company from pursuing legal action against those responsible for its losses.

Home REIT has engaged Ernst & Young to advise on the preparation for a solvent liquidation, which is expected to begin in the second quarter of 2026. This move to liquidation is dependent on the completion of the remaining property sales, continued engagement with stakeholders, and a thorough financial assessment.

Michael O'Donnell, non-executive Chair of Home REIT, said: "We are delighted to reach this key milestone in the Managed Wind-Down of the Company, which now rightly brings into focus the appropriate mechanism for, and timing of, any return of capital to shareholders, on which the Board is taking professional advice.  We look forward to providing further updates during the course of Q2."