Sign In
Last checked at 
27 Aug 2014 07:00
Target Healthcare REIT Limited
RNS Announcement
27 August 2014
Acquisition of a Purpose-Built Care Home in York
In April 2014, Target Healthcare REIT Limited ("the Company"), a specialist investor in quality UK care homes, announced it had exchanged contracts to acquire a modern, purpose-built care home in York. The care home was under construction and was due to be completed in summer 2014.
Having now reached practical completion, the Company is able to confirm that it has acquired the property for a total consideration of approximately £5.1 million including acquisition costs. As part of the transaction, the Company had provided a short-term loan facility to Ideal Carehomes Group to fund the completion of the property and this has been repaid from the consideration proceeds of the sale.
As previously reported, the care home is leased to operator Ideal Carehomes Group for a period of 35 years.
All enquiries:
Kenneth MacKenzie Target Advisers LLP
| 01786 406 581 |
Martin Cassels R&H Fund Services Limited | 0131 524 6140 |
Fiona Harris / Tom Climie Quill PR |
020 7466 5058 / 020 7466 5052 |
Follow the stocks
