Impact Healthcare REIT adds eight care homes to portfolio in Q2
Impact Healthcare REIT added eight care homes and 484 beds to its portfolio during the second quarter of 2019.
The REIT’s portfolio, which is valued at £271.6m, comprises 79 residential care homes with 3,924 beds that are let to seven tenants on 20-25 year fixed term leases.
Rupert Barclay, Chairman of Impact Healthcare REIT plc (pictured), said: “We are pleased to have made good progress in deploying the proceeds from our successful equity fundraise during the quarter while maintaining a disciplined approach to new investments.
“The group is continuing to make investments that are accretive to the overall property portfolio, continues to diversify our tenant and asset base and provide attractive, index-linked, long term sustainable income for our shareholders as well as the potential for income and capital growth.
“The Investment Manager continues to progress a strong identified pipeline of investment opportunities and asset management initiatives that will support our ability to deliver a growing dividend to shareholders while providing an environment in which our tenants can provide high quality care to their residents.”
Acquisitions completed during the quarter included:
four homes with 270 beds leased to a Maria Mallaband and Countrywide Group (MMCG) subsidiary;
the 51-bed, Birchlands care home near York let to existing tenant Welford;
the 74-bed, Kingston Court care home in Carlisle leased to existing tenant Careport; and
exchanging on the 52-bed, Holmesley care home in Devon, which will be leased to Welford and on the 37-bed, Old Prebendal House in Oxfordshire, which will be leased to Careport.
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