13th Aug 2019 11:28
(Alliance News) - Health-focused real estate investment trust Impact Healthcare REIT PLC said Tuesday it acquired two care homes in Suffolk for GBP12.9 million.
Impact bought the 55-bed Baylham Care Centre in Ipswich alongside the 43-bed Barham Care Centre in the same town.
The two properties will be leased to the "high quality" tenant Optima Care, which marks the ninth tenant on properties owned by Impact. The leases will have a fixed term of 25 years with rent subject to annual upward-only reviews linked to the retail prices index with a floor of 2.0% and a cap of 4.0% pet year.
The initial annual rent will be GBP950,000.
Impact added the two properties form part of the six target properties the firm announced in April. The firm still has exclusivity on a number of further acquisitions.
Shares in Impact were 2.1% lower at 108.66 pence in London on Tuesday.
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