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Alvarium to raise £250m in London IPO for homeless housing REIT

Wed, 03 Feb 2021

Alvarium Home REIT Advisors plans to raise £250m (€279m) via shares on the London Stock Exchange by floating a new UK homeless housing real estate investment trust (REIT).

The investment adviser said Home REIT will seek to acquire or create new accommodation across the UK with a plan to let or pre-let the assets on 20 to 30-year leases to charities, housing associations and other organisations which provide low-cost accommodation to the homeless.

It will target net total shareholder return of at least 7.5% per year over the medium term.

The net proceeds from the fundraising is expected to be invested or committed within six to nine months following the expected admission on the London Stock Exchange in the middle of next month. Alvarium said it has identified A pipeline of assets worth over £350m.

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