Deal snapshot: LXI REIT ACQUIRES THREE CARE HOMES IN NORTHERN IRELAND FOR GBP 14.9M.
UK-based property investor LXi REIT plc (LSE: LXI) has acquired the freehold interest in two Priory Group care homes in Northern Ireland and exchanged contracts to acquire a third Priory Group care home for a total portfolio consideration of GBP 14.9m (USD 19.38m), the company said.
The price reflects a net initial yield of 6.5%. Each of the properties is fully let or pre-let to companies within the Priory Group, a provider of mental health and elderly care services. The Priory Group is ultimately owned by US-based Acadia Healthcare which has a market capitalisation of USD 4bn and operates a network of over 570 facilities with over 17,000 beds.
Sector: Construction/Real Estate
Target: Freehold interest in two Priory Group care homes in Northern Ireland, agreement to buy a third Priory Group care home
Buyer: LXi REIT
Vendor: Priory Group
Deal size in USD: 19.38m
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||Aug 14, 2017|
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