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LONDON (Alliance News) - Impact Healthcare REIT PLC said on Thursday it has acquired four care homes in the UK for GBP21.0 million, reflecting a net initial yield of 7.4%.
The homes are being acquired from care homes operator Maria Mallaband & Countrywide Group, with one asset, Belmont House situated in Harrogate, England. The other three homes are in Scotland, with Wallace View in Stirling, Parksprings in Motherwell and Thorntree Mews in Falkirk.
Maria Mallaband will continue to operate the homes once sold to the healthcare-focused property investor.
The four homes have a combined total of 296 elderly care beds, of which 270 are currently in operation. The homes have been signed on new leases with 25-year fixed terms, with rents subject to inflation-linked upward-only reviews.
Shares in Impact Healthcare were down 0.1% at 107.95 pence on Thursday.
