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LONDON (Alliance News) - Impact Healthcare REIT PLC on Wednesday said it is mulling a GBP150 million fundraise, with the investment firm eyeing up a UK care home portfolio.
Impact has used up most of the GBP240 million it raised when listing in London in March last year, and the new funds will help it achieve this planned acquisition.
The real estate investment trust said it will be meeting with shareholders over the coming weeks to discuss the proposed fundraise.
The care homes have over 2,500 beds, Impact said, and they have an annual rent of approximate GBP12 million under existing leases.
Impact is also looking at other acquisition targets, with negotiations currently ongoing.
Shares were 1.9% lower on Wednesday at a price of 102 pence each.
Also on Wednesday, peer Target Healthcare REIT PLC announced a GBP40 million fundraise, via a share placing, to fund further purchases.