The law firm representing Home REIT investors has progressed legal action against the trust and its former adviser, Alvarium, which today (20 December) reported its portfolio is now worth less than half of what it spent on acquisitions.
Harcus Parker said a letter of claim has been sent to the trust on behalf of more than 250 claimants, including institutional investors, who are seeking compensation for losses on their investments. The firm noted the beleaguered trust has "repeatedly admitted" that the board had little knowledge of the company's property portfolio, its condition, the underlying occupancy, tenants' ability to meet rental payments or the standards of quality, safety and compliance. £564m written off as Home REIT portfolio shrinks 58% in revaluation In a regulatory update today, the trust said the p...
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