Civitas Social Housing has bought a £116.6m portfolio of supported living and mental health properties across the UK.
The company, which listed on the London Stock Exchange last November, has now fully deployed the equity it initially raised alongside its debt capital.
The portfolio of 57 properties, with 405 tenancies, is subject to leases of either 25 or 35 years – with the exception of one lease of 22 years – adjusted annually in line with CP1 or CPI+1.
Each property is let to housing associations including First Priority, Falcon, Westmoreland Supported Housing and Inclusion Housing.
In addition, Civitas has exchanged contracts on a further four properties for £4.9m.
Michael Wrobel, chairman of Civitas, said: “We are pleased to be able to announce the acquisition of this substantial portfolio of social housing which has enabled us to deploy fully the equity raised at the time of IPO together will all the associated debt capital secured to debt.”
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