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LONDON (Alliance News) - Impact Healthcare REIT PLC said Friday that it bought Yew Tree care centre from Monarch Alternative Capital LP for GBP2.8 million.
The real estate investment trust said the care home, which is located in Redcar, north-east England, has 76 beds with fully en-suite bathrooms.
Impact Healthcare added that it agreed to appoint one of its existing tenants, the Prestige Care Group, as the new tenant of the home for similar insuring lease terms.
The new lease has a fixed 25-year term with no break clauses and an option to extend to 35 years at the end of year 20.
Impact shares were trading up 0.9% at 104.95 pence each.