(Alliance News) - Impact Healthcare REIT PLC on Monday said it has exchanged contracts to acquire a care property in the south west of England for an initial GBP7.0 million.
The real estate investment trust said the Argentum Lodge Care Home, located in Nailsea, Somerset, will have an initial rent of GBP467,000.
Welford Healthcare Ltd, an existing Impact customer, will be the new tenant at Argentum. Welford now operates 230 beds in the Impact portfolio across five homes.
Impact said the acquisition "further enhances the group's geographic and tenant diversification and is in line with its investment criteria and returns profile".
Looking ahead, the company said it has a "strong pipeline" of potential investment opportunities.
Shares in Impact were 0.9% lower at 110.00 pence each in London on Monday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Impact Health (IHR)