City AM – A reit mess
London’s business paper CITY AM reports on beleaguered housing investor Home REIT is set to be grilled by investors today over the state of its finances, its dilapidated property portfolio and the suitability of a recent takeover approach from a firm with links to its former investment advisor.
The troubled former FTSE 250 firm is due to face shareholders at its annual general meeting in London this morning – the first time it will speak with shareholders publicly after a damning short seller report by Viceroy Research first raised concerns about its financial health in November.
Top investors including Blackrock, M&G and Liontrust, as well as Viceroy, are expected to attend as the board is probed over its admission last week it had only collected 23 per cent of total rent due and its portfolio would require some £15-20m to refurbish.
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Catch up on today’s UK front pages
