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LONDON (Alliance News) - Impact Healthcare REIT PLC on Wednesday said it purchased two care homes with a total of 138 beds for GBP8.3 million from Alpha Care Management Services Ltd.
The investment company said the Carnbroe Care Centre, near Glasgow, offers 74 beds and includes specialised dementia care units, while Grenville Court Care Home near Norwich has 64 beds and also offers dementia care.
In addition, Impact Healthcare said it entered into new lease agreement for each care home with Minster Care Group Ltd. Each lease has a 20-year term with no break clauses and an option to extend for a further two 10-year periods. The total initial rent under the leases is expected to reach GBP608,000.
Since the start of 2018, the company said it added a total of 366 operating beds to its portfolio, representing nearly a 15% increase on the number of beds as at the end of 2017.
Looking ahead, Impact healthcare said it has agreed on a number of further acquisitions and continues to make progress in adding beds to its existing portfolio.
The stock was trading marginally lower at 103.49 pence per share on Wednesday afternoon.