REIT focused on accommodation for the homeless plans London IPO

Sept 7 (Reuters) - Home REIT, a vehicle that aims to invest in property providing accommodation to the homeless, said on Monday it plans to raise around 250 million pounds ($330.30 million)by listing on the London Stock Exchange.

Home REIT plans to sell shares at 1 pound each, and will be managed by Alvarium Fund Managers and advised by Alvarium Home REIT Advisors, both members of Alvarium Investments whose parent is Alvarium Investments.

“The company will seek to contribute to the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by investing in a diversified portfolio of assets across the UK,” the company said.

The company said it would plan to invest in a range of facilities including those aimed at women fleeing domestic violence, people leaving prison, individuals suffering from mental health or drug and alcohol issues and foster care leavers. ($1 = 0.7569 pounds) (Reporting by Muvija M in Bengaluru Editing by Rachel Armstrong)