A newly listed real estate investment trust (REIT) has completed the acquisition of a healthcare portfolio for close to 拢150m (鈧�177m).
Impact Healthcare REIT, which floated on the London Stock Exchange in March, paid 拢149m for the 56 residential care homes with 2479 beds, at a net initial yield of 7.6%.
In March, Impact Healthcare REIT, a specialist property company, raised 拢160m to fund the acquisition.
Applications have been made for the admission of 14,000,000 ordinary shares to trade on the specialist fund segment of main market of the London Stock Exchange.
Rupert Barclay, non-executive chairman of Impact Healthcare REIT, said: 鈥淭his diversified operating portfolio of residential care homes is let to experienced operators for an initial term of 20 years, providing the company with stable, secure cash flows from admission.
鈥淭his enables the company to provide shareholders with regular, attractive, inflation-protected income with the potential for dividend and capital growth through active asset management as well as potential acquisitions.鈥�
Barclay said Impact Healthcare REIT was in a good position to 鈥渃apitalise on the highly fragmented market with a supply-demand imbalance that is continuing to grow鈥�.
