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Impact Healthcare REIT PLC - London-based real estate investment trust focused on healthcare properties - Acquires portfolio of 12 care homes which were owned and operated by Kingdom Homes whose owners are retiring from the care home business for initial consideration of GBP37.5 million. All of the homes will be operated by an existing group tenant, Holmes Care Group, and are located in Fife, Scotland.
"The homes each have a track record of delivering high quality care and strong operational performance which will continue under the stewardship of Holmes. Each home has either an equivalent EPC rating of B or C with strategies in place for achieving an equivalent EPC rating of B," company says.
Notes potential deferred payment of up to GBP2.5 million subject to the future performance of the care homes. Initial rent under the new leases is set at GBP2.7 million reflecting a gross initial yield of 7.2%.
Now has 21 care homes across Scotland, with 1,129 beds.
Earlier Thursday, acquired three care homes for GBP14.3 million.
Says these acquisitions will raise the company's total investment to 112 care homes comprising 6,191 beds. At the end of September, Impact Healthcare had 108 homes and 5,900 beds.
Impact Healthcare added that the purchase would increase its contracted annual rent roll to GBP35.5 million. This represent a 4.7% increase on contracted annual rent at September 30, which was GBP33.9 million.
Current stock price: 117.40 pence
Year-to-date change: up 7.7%
By Paul McGowan; paulmcgowan@alliancenews.com
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