Triple Point Social Housing REIT PLC (GB:SOHO) has released an update.
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Triple Point Social Housing REIT has successfully transferred all 38 properties from Parasol to Westmoreland Housing Association, which is expected to increase the company’s rent collection to a minimum of 75%-85% during a stabilization period, and ultimately at least 90% of existing FRI lease rent. The strategic move, which aims to ensure full dividend coverage, is a result of a four-month process designed to enhance rental income while maintaining quality services for residents. Westmoreland, known for its solid track record, manages 950 specialized supported housing homes and has demonstrated financial growth and stability under the current management since 2020.
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