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02 May 2019 | 08:59

Impact Healthcare REIT acquires four care homes for £21m

Impact Healthcare REIT acquired four care homes for £21m and added a high-quality new tenant.

The four homes were being acquired from subsidiaries of the Maria Mallaband and Countrywide (MMCG) in a sale and leaseback transaction.

MMCG would continue to operate the homes after completion.

The four homes have a combined total of 296 elderly care beds, of which 270 were currently in operation.

The net purchase price of £21.0m, reflected a net initial yield of 7.4%, the company said.

At 8:59am: (LON:IHR) Impact Healthcare Reit Plc share price was -0.5p at 107.5p

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