5th Oct 2018 09:22
LONDON (Alliance News) - Triple Point Social Housing REIT PLC on Friday said it has purchased ten supported housing properties and also exchanged contracts on three further properties.
In total, the investment firm said it bought 51 units for an aggregate commitment of GBP7.9 million, excluding costs.
The properties comprise specialist homes for individuals with mental health and other support and care needs.
Triple Point Social Housing said it obtained new leases for each property for a minimum period of 20 years with the option to extend to 25 years. These leases are with specialist housing associations: Chrysalis Supported Association and Falcon Housing Association.
Meanwhile the company will enter into new leases with Auckland Home Solutions, Falcon Housing, and Inclusion Housing for a period of 20 years. The company said it will also secure an option to extend the lease for one of the properties to 22 years and for 25 years for another two properties.
Triple Point Social Housing shares were trading 0.5% higher on Friday at 106.00 pence each.
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