25th Oct 2018 12:37
LONDON (Alliance News) - Triple Point Social Housing REIT PLC said Thursday it has spent GBP12.6 million in acquiring and developing supported housing properties.
The company bought ten supported housing properties, comprising of 87 units in total, located across England. The properties are all specialist homes refurbished for individuals with mental health and other support and care needs.
The group has entered into new full repairing and insuring leases with specialist housing associations for a minimum of 20 years with the ability to extend to 25 years.
Triple Point said it has also entered into forward funding arrangements to develop another supported housing scheme and exchanged contracts on one further supported housing property.
The real estate investment trust's shares were untraded on Thursday, last quoted at 103.00 pence each.
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