8 Dec 2014 07:00
Target Healthcare REIT Limited
RNS Announcement
8 December 2014
Acquisition of Care Home in Hastings, East Sussex
On 4 September 2014, Target Healthcare REIT Limited ("the Company"), a specialist investor in UK care homes, announced it had exchanged contracts to acquire a new, purpose-built care home in Hastings, East Sussex.
As the property has now reached practical completion and been registered with the Care Quality Commission, the Company confirms that it has acquired the property for a total consideration of approximately £8.0 million including acquisition costs.
As previously reported, the care home will be leased to operator Hastings Court for a period of 35 years and the transaction represents an initial yield in excess of 7%.
All enquiries:
Kenneth MacKenzie Target Advisers LLP
| 01786 406 581 |
Martin Cassels R&H Fund Services Limited | 0131 524 6140 |
Fiona Harris / Sam Emery Quill PR |
020 7466 5058 / 020 7466 5056 |
Target Healthc. (THRL)