28th Aug 2018 11:24
LONDON (Alliance News) - Civitas Social Housing PLC said on Tuesday it has acquired four regulated social housing properties for a total of GBP31.9 million.
The portfolio is made up of 92 tenancies and places across the northeast of England.
The majority of the beds within the property are leased to Auckland Home Solutions, a new registered provider for Civitas. The remaining beds are leased to Falcon Housing Association CIC, which holds all leases previously assigned by Civitas to First Priority Housing Association Ltd.
The properties are subject to 25-year leases with rents adjusted annually in line with inflation over the period. The acquisition was funded through cash resources from Civitas's recently issued C shares.
Shares in Civitas Social Housing were down 0.7% at 107.75 pence on Tuesday.
Related Shares:
CSH.L