Target Healthcare has acquired a care home in Nottingham for £7.6m through a sale and leaseback deal.
Acorn House was sold by Acacia Care, which has run the care home since it opened in 2013. Target Healthcare has leased it back to Acacia on a 35-year lease with an RPI-linked cap and collar. There is no rent-free period.
The home comprises 64 bedrooms each with an en suite bathroom.
John Flannelly, head of investment at Target Fund Managers, said: “This acquisition brings the number of assets in our portfolio to 63 including developments, and offers us the opportunity to support the growth of a tenant we regard as an operator of quality. The home has positive CQC ratings and provides a warm and welcoming environment for its residents.”
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