29th May 2019 11:15
LONDON (Alliance News) - Triple Point Social Housing REIT PLC said Wednesday it has acquired 12 supported housing properties, agreed to acquire a further three, and entered forward funding arrangements to develop another three.
The projects will cost GBP39.5 million in total.
The 18 UK properties comprise 178 units located in London, the South East, South West, West Midlands, East Midlands, and East of England.
For the properties acquired and properties to be acquired, Triple Point will enter into new full repair and insurance leases for a minimum of 20 years with the ability to extend.
These leases are with specialist housing associations including 28A Supported Living, Hilldale Housing Association and Inclusion Housing.
For the forward funded assets, Triple Point will enter new FRI leases with Inclusion Housing and Chrysalis Supported Inclusion for a minimum period of 20 years.
Shares in Triple Point Social Housing REIT were down 0.9% at 90.82 pence on Wednesday.
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