9th Sep 2019 17:25
(Alliance News) - Triple Point Social Housing REIT PLC purchased a portfolio of properties for an initial GBP24.5 million from sellers Voyage Care BondCo PLC said on Monday.
The real estate investment trust could also pay a deferred consideration of GBP2.9 million, taking the total to GBP27.4 million.
The portfolio consists of "supported living properties", meaning it also provides services for those in need of social care.
Voyage's Chief Executive Andrew Cannon said: "I am delighted that we have sold this property portfolio to Triple Point. This transaction, which is in line with our strategic objectives will have no or minimal impact on the people we support, improves the group's leverage and frees up our capital resources to develop the business and continue to deliver great care and support."
Voyage provides specialist care and support for over 3,500 people in the UK with learning disabilities, brain injuries and other needs.
Shares in Triple Point closed 2.7% lower at 86.60 pence each in London on Monday.
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