19th May 2016 15:11
LONDON (Alliance News) - Target Healthcare REIT Ltd Thursday said it has acquired a purpose built care home in Southport, Merseyside for around GBP6.6 million, including acquisition costs.
This is in line with its investment policy, Target Healthcare said.
The home comprises 67 bedrooms and opened doors to residents in early May.
Upon acquisition the home was leased back to its developer, Athena Healthcare Group, and is subject to a 35 year lease.
"We are very pleased to announce the completion of this acquisition which adds a further high quality asset to our portfolio and allows us to work with a new tenant who we believe will deliver high quality care. This transaction was contemplated prior to our recent successful fundraise, and we continue to progress other opportunities as we look to deploy those proceeds in a timely fashion. We expect to make further announcements in due course," said Managing Partner Kenneth MacKenzie in a statement.
Shares in Target Healthcare were up 1.0% at 107.59 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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