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Pin to quick picksImpact Health Regulatory News (IHR)

Share Price Information for Impact Health (IHR)

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Impact Healthcare REIT is an Investment Trust

To seek to provide Shareholders with an attractive return, principally in the form of quarterly income distributions and with the potential for capital and income growth through exposure to a diversified portfolio of Healthcare Real Estate Assets.

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Acquisition

13 Aug 2019 07:00

RNS Number : 7236I
Impact Healthcare REIT PLC
13 August 2019
 

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than the United Kingdom), Canada, Australia, Japan or the Republic of South Africa.

 

13 August 2019

Impact Healthcare REIT plc

("Impact" or the "Company" or, together with its subsidiaries, the "Group")

ACQUISITION

The board of Directors (the "Board") of Impact Healthcare REIT plc (ticker: IHR), the real estate investment trust which gives investors exposure to a diversified portfolio of UK healthcare real estate assets, in particular care homes, is pleased to announce that the Group has exchanged contracts to acquire two care homes and added a high-quality new tenant. The net purchase price is £12.9 million. The initial rent will be £950,000.

 

Baylham Care Centre is a 55-bed purpose-built care home, which is currently rated Outstanding by the Care Quality Commission (CQC). Barham Care Centre is a 43-bed care home, which is rated Good by CQC. Both homes are near Ipswich.

 

The homes will be leased to a new operator for the Group, Optima Care ("Optima"), our ninth tenant¹. Optima is a specialist health and social care provider with experience in operating residential dementia care homes for the elderly. Founded in 2004, Optima has built an excellent reputation for providing high quality specialist care, support and services. The two new leases are on Impact's standard terms, with a fixed term of 25 years and rent subject to annual upward-only reviews linked to the Retail Prices Index, with a floor of 2% p.a. and a cap of 4% p.a. Optima has committed to a minimum annual expenditure on the maintenance of the homes.

 

Barham was extended in 2017, when 17 bedrooms were added. There is a further asset management opportunity to extend the home through building 21 new bedrooms with full bathrooms, while removing 11 bedrooms in an existing single storey extension, adding a net 10 bedrooms to the home.

 

This investment comprises one of the six target transactions that the Company included in its announcement on 15 April 2019.

 

The acquisition is in line with the Group's investment criteria and returns profile.

 

The Group has agreed exclusivity on a number of further acquisitions and continues to evaluate a strong pipeline of potential investment opportunities and expects to announce further acquisitions shortly.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Impact Health Partners LLP

Mahesh Patel

Andrew Cowley

via Maitland/AMO

Winterflood Securities Limited

Joe Winkley

Neil Langford

Tel: 020 3100 0000

RBC Capital Markets

Rupert Walford

Matthew Coakes

Tel: 020 7653 4000

Maitland/AMO (Communications Adviser)

James Benjamin

Andy Donald

Tel: 020 7379 5151

Email: impacthealth-maitland@maitland.co.uk

 

The Company's LEI is 213800AX3FHPMJL4IJ53.

 

Further information on Impact Healthcare REIT is available at www.impactreit.uk.

 

NOTES:

Impact Healthcare REIT plc is a real estate investment trust ("REIT") which aims to provide shareholders with an attractive return, principally in the form of quarterly income distributions and with the potential for capital and income growth, through exposure to a diversified portfolio of UK healthcare real estate opportunities, in particular residential care homes. The Group's investment policy is to acquire, renovate, extend and redevelop high quality healthcare real estate assets in the UK and lease those assets primarily to healthcare operators providing residential healthcare services under full repairing and insuring leases.

 

The Company's intention is to pay a target dividend of 6.17 pence per share for the year to 31 December 20192.

 

The Company will seek to grow the target dividend in line with the inflation-linked rental uplifts received by the Group under the terms of the rent review provisions contained in the Group's leases in the prior financial year.

 

The Group's Ordinary Shares were admitted to trading on the main market of the London Stock Exchange, premium segment, on 8 February 2019. The Company is a constituent of the FTSE EPRA/NAREIT index.

¹ Minster and Croftwood (both subsidiaries of Minster Care Group), Careport, Prestige, Renaissance, Welford, Maria Mallaband Countrywide Group, NHS Cumbria and Optima.

² This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indicator of the Company's expected or actual results.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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ACQGGUAWRUPBUBP
Date   Source Headline
25th Mar 20247:00 amRNSANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023
18th Mar 20247:00 amRNSBOARD CHANGES
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2nd Jun 20234:25 pmRNSTransfer of Operations & Related Party Transaction
26th May 20231:42 pmRNSHolding(s) in Company
17th May 20234:49 pmRNSResult of AGM
25th Apr 20237:00 amRNSDividend Declaration & Q1 Update to 31 March 2023
31st Mar 20235:10 pmRNSNotice of AGM
29th Mar 20239:36 amRNSDirector/PDMR Shareholding
29th Mar 20237:30 amRNSDirector Declaration
28th Mar 20237:00 amRNSAnnual Results for the year ended 31 December 2022
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23rd Mar 202311:18 amRNSHolding(s) in Company
21st Mar 20237:00 amRNSNotice of Full Year Results
15th Feb 20237:00 amRNSDisposal of Care Home & Related Party Transaction
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31st Jan 20237:00 amRNSQ4 2022 NAV, Dividend Declaration and Update
31st Jan 20237:00 amRNSTotal Voting Rights
10th Jan 20237:00 amRNSINVESTMENT IN PORTFOLIO OF SIX CARE HOMES
28th Dec 20227:00 amRNSREVOLVING CREDIT FACILITY
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5th Dec 20224:51 pmRNSHolding(s) in Company
2nd Nov 20227:00 amRNS£25 MILLION EXTENSION OF REVOLVING CREDIT FACILITY
21st Oct 20227:00 amRNSNAV, Portfolio & Finance Update and Dividend
10th Oct 20227:00 amRNSDisposal of Care Home & Related Party Transaction
22nd Aug 20227:00 amRNSAcquisition of Two Care Homes and New Tenant
16th Aug 20227:00 amRNSHalf Year Results and Dividend
5th Aug 20229:00 amRNSNotice of Results
29th Jul 20224:46 pmRNSTotal Voting Rights
12th Jul 20223:41 pmRNSHolding(s) in Company
12th Jul 202211:03 amRNSHolding(s) in Company
8th Jul 20226:06 pmRNSHolding(s) in Company
6th Jul 20227:32 amRNSResults of the Placing and Offer for Subscription
22nd Jun 20227:00 amRNSProposed Placing and Offer for Subscription
1st Jun 20227:00 amRNSAcquisition of Three Care Homes

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