Impact Healthcare REIT PLC - real estate investment trust focused on healthcare properties - Acquires three care homes in Devon and Somerset for GBP25.0 million, which are currently let to an existing tenant Welford Healthcare Ltd. Impact says the homes add 184 mostly en-suite beds to its portfolio, which then will total 134 properties with 7,316 beds. Initial rent under the new leases it set at GBP1.7 million, reflecting a gross initial yield of 6.8%. Rent cover is expected to be over two times, based on the current trading performance of the homes.
Current stock price: 123.40 pence, up 3.7% on Wednesday
12-month change: up 12%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Impact Health (IHR)