Target Healthcare REIT has confirmed the £5.1m purchase of a York care home.
The specialist care home investor announced in April that it had exchanged contracts to buy the purpose-built building, which was under construction and was due to be completed in summer 2014.
Having now reached practical completion, the company has confirmed the value of the deal and said that as part of the transaction it had provided a short-term loan facility to Ideal Carehomes Group to fund the completion of the property.
This has been repaid from the proceeds of the sale.
As previously reported, the care home is leased to operator Ideal Carehomes Group for a period of 35 years.
bridget.o’connell@estatesgazette.com
