Home Reit Share Discussion Threads

[wallywoo] 16/2/2023 13:56

Sure trolls, fire away.


But as I have said on here before, the party with power here is the legal owner of 2800ish HMO houses. They have a value, and can be used in different ways to generate cash. Their is more than plenty of equity to account for a good share price.


The charities will either lose their lease rights and / or disband, / get taken to court. The emerging parties that will no doubt emerge to bid for Homes assets, just confirms this too. The likely loser in all this will be homeless people who will find a home harder to find. Something you trolls should bow your heads in shame for promoting!!!

[tradez4dayz] 16/2/2023 13:43

A wally indeed

[spectoacc] 16/2/2023 13:37

Trolling? Try research. And truth. Two things you could so easily have listened to, instead of constantly ramping and posting nonsense.

"Huge value" gave me a good lol tho, thanks.

[wallywoo] 16/2/2023 13:18

Interesting that Sarasin are declaring a 43.5m shares Interest (5.51%)


Their last holdings rns was in 2021 at 17.22m shares.


Despite the constant trolling on this BB, there has been some big buying going on here.


What's going to happen next, who knows. Like having your own soap opera, owning shares here!! No doubt there's huge value if you bgt a under 40p, but who knows how that value will manifest. With some very powerful large shareholders, it will get sorted. Despite the cynic's on here.

[williamcooper104] 16/2/2023 12:57

SW will be actively managing their position But they won't want the political grief/bad publicity of calling the loan in (it's likely that there's been a default given the rent collection)

[williamcooper104] 16/2/2023 12:55

I notice the Chair using the dreaded "all stakeholder" language - which is zone of insolvency stuff

[tradez4dayz] 16/2/2023 12:40

Thanks Specto, you have to think SWs are looking hard at it, must be in their distressed loan department at the least

[spectoacc] 16/2/2023 12:38

Form 8.3'a are for disclosing stakes of over 1%, now that HOME has bizarrely put itself into a bid situation. So anyone between 1% & 3% now has to disclose it.

Reminded that one of the shorters reversed and went long, before the suspension, in order to call on the Board to remove Alvarium. Assume we'll see an RNS from them too.

What will Scottish Widows do... And how much will HOME get fined (eventually) for their misleading statements.

[williamcooper104] 16/2/2023 12:36

I'm in at 43p

[tradez4dayz] 16/2/2023 12:33

I seem to have dabbled with a foot, but at 40p so not too bad.Thought it was possible to save but now it's clear that can't happen with current board and definitely management.A question to the more educated, what are these form 8.3s being rns'd today?

[williamcooper104] 16/2/2023 12:28

Fortunately I'm in for a toe (and resigned to getting a toe nail back) - was an initial buy to build up a position as obvious actions taken to improve matters - such as getting shot of Alvarium

[spectoacc] 16/2/2023 12:11

It's the denials that are so strange - we could see some of what was going on (not even the half of it, as it turned out) & that it needed addressing.

Some of the information RNS'd to market about eg collecting 100% of rents was at best misleading, and even a fool (not including some on here, or M&G) could see at least some of the allegations were true.

Hope you only had a small punt here @Wc104 (waiting for @totalWallywoo to tell us he only had 25k shares, or that the bid will be at 50p).

Will be revisiting some of the posts where punters claimed the likes of M&G buying more on the falls were a sign that all was OK.

HOME makes me realise how many frauds must be out there - related party transactions, inflated contracts to mates, carefully hidden value extraction, inflated expenses - that we never spot. HOME utterly brazen, geezers buying HMO properties at auction, flipping them to another SPV to partially cover tracks, flipping on to HOME, sometimes within weeks, at double the price, then also being involved in the "charity" lessee signing the 30 year lease. And using some of HOME's purchase price to cover the rent for long enough to extract the profits and fold the SPVs, seemingly without doing the contracted CapEx.

The backlog of CapEx is far larger than discovered today I bet. Tho about the only good news was that there might be up to £10m of retentions that "may" become available. Wouldn't take much more rent deterioration to make HOME no longer a going concern.

What are the lenders going to do? "We've collected 100% of rent. No, wait - we meant 23%, & need a multiple of that just to catch up CapEx".

Who has the deepest pockets? Going after Link is taking years at WIM; same ahead at Alvarium?


Edit - "Whilst the Board will endeavour to be as open as possible at the forthcoming AGM, there will be a limit to what it can say due to ongoing investigations."

Yeah, I'll bet. HOME's not coming back. The forensics have been at it since early Jan, for them not to be able to announce anything 6 weeks on tells you all you need to know.

Maybe the Simpact "Group" bloke could bid for HOME too?

[williamcooper104] 16/2/2023 11:23

Indeed Don't see how anyone could invest in LXI You're right in that we shouldn't really be surprised but I'm still shocked by the brazenness of it

[spectoacc] 16/2/2023 11:19

Brilliant isn't it - but heck, it's not Alvarium, they sold the part managing HOME to the management, right? But with the option to buy it back at the same price, so......

This surely calls into question everything Alvarium manage - if it hadn't done so already.

"Any offer by Bluestar would likely be in cash."

Hmmm. Be interested to know where the bank debt sits in all this.

There's going to be years of litigation - the co, the advisers, Alvarium, the board, the auditor, Knight Frank, the SPVs. KF in particular have been very quiet.

And yet some on here were arguing it couldn't be fraud because MNG had kept buying after the allegations came out...

[williamcooper104] 16/2/2023 10:34

Yep - just what I was thinking - why not just call it the Alverium bid

[tradez4dayz] 16/2/2023 10:26

I just don't understand, they are not even making any attsmpt to cover their tracks.Anyone could have worked our what we just did with 10 minutes on companies House.It seems like they are even inept at trying to rip off shareholders as well as running a business

[williamcooper104] 16/2/2023 10:24

It's truly staggering I wouldn't go after the board; they've been royally dropped in it Though clearly the board needs strengthening Alvarium need to be removed as soon as - they've not every incentive to manage values down - not to be fair like they need much help

[tradez4dayz] 16/2/2023 10:22

And what's more the other company in the bluestar group, bluestar advisors.Guess what their registered address is, 10 old burlington st.Even better the other director of blusstar advisors is Jonathan Elkington, seems to be a director of a number of alvarium companies and their head of real estate. Even better he was director of home reit advisors until February.https://find-and-update.company-information.service.gov.uk/company/12881400/officers

[williamcooper104] 16/2/2023 10:18

The bidder - have a look at their change of address https://find-and-update.company-information.service.gov.uk/company/12260861/officersHere's a similar company with a shared director https://find-and-update.company-information.service.gov.uk/company/12881400/persons-with-significant-controlWhen I say Alverium fronted - it's not exactly hidden

[tradez4dayz] 16/2/2023 10:14

Even Bluestarts registered Office used to be 10 old burlington Street up until October 2020. Shock its the same registered office as alvarium.This is nothing but fraud.Awful, I just can't believe it

[wskill] 16/2/2023 10:14

£240m raised in 2020 then more issues another £600m or so Alverium have made this £840 million disappear into thin air and how much have they borrowed on top of this .

The FCA will do nothing about this disappearance of all the assets in much less than a year normal business to them.The speed at which this cash has vanished in only a few months since the last equity raise means it has been planned in advance.

MNG must take this shower to book now they cannot allow this behaviour, you can understand when this happens in Africa but this happened in London or is London the new Africa of the investment world.

See Alverium are wealth managers for family assets as well.

[tradez4dayz] 16/2/2023 10:11

Unbelievable, I really can't understand how this keeps being mismanaged.The Board and management are utterly inept.The AGM will definitely be an entertaining one, shame they aren't webcastjng it.

[williamcooper104] 16/2/2023 08:50

This looks like Bluestar Capitals first deal My guess is that they are just fronting money for Alverium So now Alverium are incentivised to manage down values to get a cheap price to get a better eventual carry

[williamcooper104] 16/2/2023 08:47

Bluestar Group Limited Strange; not heard of them before So I googled It was set up in 2019 https://uk.linkedin.com/in/ben-gotlieb-a9400993The CEO used to work at Queensgste Investments Guess who provides most of the equity for Queensgate Alverium This really really stinks

[williamcooper104] 16/2/2023 08:35

I would be extremely skeptical about a bid Alvarium have the option of buying back the management so they could arrange a checky low ball bid and then get themselves re-appointed as the manager; with a carry/performance fee I'm trying to go to the AGM but struggling to get the letter of rep from my broker