Civitas Social Housing has bought 15 supported living and care facilities in south Wales for £10.9m.
The London-listed housing and healthcare company said the 51-bedroom portfolio would also provide long-term support for people with learning disabilities, mental health care needs and dedicated facilities to improve skills such as cooking, numeracy and literacy.
The properties are subject to 25-year leases with Auckland Home Solutions, with rents rising at consumer price index levels over the full term.
The deal is the first to be financed with the proceeds from a recently secured debt facility with M&G by Civitas.
Chief executive Paul Bridge said: “These have been adapted on a bespoke basis to enable individual vulnerable adults to live in a safe and secure home while remaining part of their community.
“The acquisition will extend the company’s geographic diversity whilst meeting the ongoing key strategic objective of delivering sustainable returns to shareholders and providing measurable social impact to society.”
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