27th Aug 2014 09:45
LONDON (Alliance News) - Target Healthcare REIT Ltd Wednesday said it has agreed to acquire a modern, purpose-built home in York in a deal worth GBP5.1 million.
The company said as part of the transaction, it had provided a short-term loan facility to Ideal Carehomes Group to fund the completion of the property, and this has been repaid from the consideration proceeds of the sale.
The care home is leased to operator Ideal Carehomes Group for a period of 35 years.
Target Healthcare shares were quoted down 1.8% at 102.88 pence Wednesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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