Civitas Social Housing has acquired a supported housing and healthcare scheme in Wales for £12.4m.
The scheme provides 65 beds for people with learning disabilities, autism and mental health care needs, and the properties are situated across two local authority areas in south Wales.
The properties are leased to social landlord Bespoke Supported Tenancies.
The REIT said the acquisition enables the business to “extend the geographic coverage of the company’s portfolio within the UK and further enhances portfolio diversity”.
The development was identified off-market by Civitas Investment Management, the company’s investment adviser.
Civitas Investment Management chief executive of social housing Paul Bridge said: “These are needs-led state-of-the-art facilities, specifically designed to enable vulnerable adults to live in secure, safe and suitable homes within their communities.
“This is in line with our stated objective: to deliver sustainable returns to our shareholders by making socially beneficial investments within the housing and healthcare sectors in the UK.”
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