Home REIT has taken back the leases on 38 properties from Eden Safe.
The tenant, which held leases on around 2% of the company’s portfolio, has not paid any rent to Home REIT since October 2022.
The annual contracted rent due for the properties is £1.14m pa.
The REIT said the majority of the properties are occupied by private rented sector tenants on assured shorthold tenancies. These will now transfer to Home REIT, which will collect the rents directly.
Centrick will be appointed as property manager for the properties.
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