18th Feb 2019 11:50
LONDON (Alliance News) - Civitas Social Housing PLC said on Monday it has purchased nine social housing properties comprising 42 tenancies for GBP7.8 million.
The properties are currently leased to Encircle Housing Ltd, Auckland Home Solutions CIC and Inclusion Housing CIC, all counterparties to existing leases within the company's portfolio.
The properties are expected to be immediately income-generating with an initial net yield in line with Civitas's expectations.
Civitas has not disclosed where the properties are located.
Shares in the real estate investment trust were up 0.4% at 100.00 pence on Monday.
Related Shares:
CSH.L