Impact Healthcare REIT has bought two healthcare portfolios comprising of 56 care homes for £148.8m as a seed portfolio following its listing in March.
The Core Seed Portfolio and Mulberry Portfolio provide 2,479 beds on 20 leases with options to extend for two further 10-year periods.
All outstanding lending facilities on the portfolio have been repaid in full and it has been acquired debt-free. The net initial yield is 7.6% and the leases are subject to annual uplifts based on increases in the UK retail prices index.
Rupert Barclay, non-executive chairman, said: “This diversified operating portfolio of residential care homes is let to experienced operators for an initial term of 20 years, providing the company with stable, secure cash flows from admission.”
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