Target Healthcare REIT has exchanged contracts on an £8m care home in Hastings, East Sussex.
The home will be leased to operator Hastings Court for 35 years. The deal represents a net initial yield of 7%.
Target Healthcare REIT was formed in January 2013 to invest in care homes and other health-related assets.
The mixed-use scheme is expected to support 2,500 jobs once complete
The site holds hybrid planning consent for 1,493 homes, 475 hotel beds and 31,000 sq ft of commercial space
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