Target Healthcare has completed the £37m acquisition of two luxury care homes in Cirencester, Gloucester, and in Camberley, Surrey.
Both assets, sold by Octopus Healthcare and Aura Care Living, are let to Aura Care Living on 30-year fully repairing and insuring leases. It brings the number of tenants at Target Healthcare properties to 21.
Stratton Court, the Cirencester care home, comprises 73 bedrooms, and Kings Lodge in Camberley has 64 bedrooms.
The transaction is the latest since Target Healthcare raised £94m in equity in February.
John Flannelly, head of investment at Target Fund Managers: “The homes are of the very highest specification and provide an excellent standard of living for the residents, while providing a quality of care that is in keeping with our own ethos.
“We continue to have a strong pipeline of potential investments that we are working on and we hope to make additional announcements in the near future as we continue to prudently grow the portfolio and improve the quality, diversity and visibility of our rental income.”
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