(Alliance News) - John Laing Group PLC on Monday said it has received all approvals and reached financial close on an investment in retirement accommodation with developer McCarthy Stone.
In April, the FTSE 250-listed infrastructure investor said the agreement will see the platform Brigid Investments Ltd, in which John Laing and Macquarie Capital are each 50% shareholders, invest in purpose-built, completed and let retirement living units. John Laing in April said 250 completed units will be acquired, with a further 400 to be acquired over the next 12 months. Combined, these acquisitions represent an investment commitment of GBP50 million.
The company on Monday explained it has secured "all necessary approvals" and "achieved financial close".
John Laing added: "The group has achieved its full year guidance for 2021 of investment commitments of at least GBP100 million, with GBP107 million in new investment commitments. This comprises the investments in the UK-based specialised accommodation platform, the Pacifico 2 road PPP project, and a German fibre-to-the premise roll-out platform.
John Laing shares were flat at 403.80 pence each in London on Monday morning.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
