1st Jul 2014 09:53
LONDON (Alliance News) - Target Healthcare REIT Tuesday said it has exchanged contracts to acquire a new purpose-built care home in Hinckley, Leicestershire in a deal worth GBP6.0 million.
The company did not name the buyer but said the care home will be leased to care home operator Care Concern Group for 35 years.
The property is a modern purpose-built care home built with 72 bedrooms. Each bedroom has full en-suite facilities, including wetroom showers.
Jersey-based Target Healthcare said it has now invested all of the GBP95.7 million it raised from institutional investors, wealth managers and private investors. The company has also started to drawn down the GBP30 million term loan and revolving credit facility provided by the Royal Bank of Scotland Group PLC.
Target Healthcare shares were untraded Tuesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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