Printer Friendly

Target Healthcare REIT Acquires Two Properties For GBP19 Million.

(Alliance News) - Target Healthcare REIT PLC said Friday it has acquired two care home properties for GBP18.6 million, including transaction costs.

The first property is the Moors Care Centre in Ripon, Yorkshire, which comprises 70 bedrooms. The second asset is the Wharf Care Centre in Stourport, West Midlands, and comprises 67 bedrooms.

Both homes are let on 35-year leases with an inflation-linked cap and collar to a subsidiary of care homes operator Maria Mallaband Care Group.

"This transaction adds two further high quality assets, in strong locations, to the portfolio and also allows us to welcome Maria Mallaband, a highly regarded national operator, to our tenant group," said John Flannelly, head of Investment at Target Fund Managers.

"These acquisitions take us closer towards full deployment of our available capital and we continue to progress our identified pipeline of investment opportunities, with further announcements expected in the near future," Flannelly added.

Shares in the healthcare property investor were marginally higher at 117.25 pence on Friday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

COPYRIGHT 2019 NLA Access Media Limited
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Alliance Newswire
Date:Aug 23, 2019
Words:180
Previous Article:Galileo Resources Annual Loss Narrows On Lower Operating Costs.
Next Article:Hummingbird Resources Reports Interim Loss On Higher Production Costs.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters