15th Feb 2023 08:58
(Alliance News) - Impact Healthcare REIT PLC on Wednesday said it has sold Mulberry Manor, a 49-bed care home in Mexborough, for GBP1.3 million.
The sale of the non-core care home is in line with its latest valuation at December 31, the London-based real estate investment trust said.
Mulberry Manor was acquired as part of the Seed portfolio in May 2017.
In 2017, Impact bought a portfolio of residential care homes for a total consideration of GBP148.8 million. The portfolio, consisting of the Core Seed Portfolio and the Mulberry Portfolio, included 56 residential care homes with a total of 2,479 beds.
"The home was not a long-term strategic asset for Impact or the tenant, Minster Care Management Ltd, and as part of the group's active portfolio management strategy, was jointly marketed," Impact explained.
It is expected that the transaction will be complete during the first quarter.
Shares in Impact Healthcare were down 1.5% to 100.87 pence each in London on Wednesday morning.
By Sophie Rose, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.