Target Healthcare has completed the acquisition of a care home in Halifax.
The REIT closed the deal at all-in costs of £7.2m for Summerfield House, a modern purpose-built home with 106 beds.
The site, opened in 2011, will be leased to and operated by Bondcare on a 35-year lease with an RPI linked cap and collar.
Kenneth MacKenzie, managing partner of Target Advisers, said: “We are pleased to announce the acquisition of this home, which adds a further good-quality asset to our portfolio and allows us to support the growth of an existing tenant’s business. This acquisition was contemplated during our recent successful fundraise and we continue to progress other opportunities as we look to invest those proceeds in a timely fashion. We expect to make further announcements in due course.”
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