Acquisition

RNS Number : 0543Q

Target Healthcare REIT Limited

27 August 2014

 



Target Healthcare REIT Limited

RNS Announcement

27 August 2014

Acquisition of a Purpose-Built Care Home in York

In April 2014, Target Healthcare REIT Limited ("the Company"), a specialist investor in quality UK care homes, announced it had exchanged contracts to acquire a modern, purpose-built care home in York. The care home was under construction and was due to be completed in summer 2014.

Having now reached practical completion, the Company is able to confirm that it has acquired the property for a total consideration of approximately £5.1 million including acquisition costs. As part of the transaction, the Company had provided a short-term loan facility to Ideal Carehomes Group to fund the completion of the property and this has been repaid from the consideration proceeds of the sale.

As previously reported, the care home is leased to operator Ideal Carehomes Group for a period of 35 years.

All enquiries:

Kenneth MacKenzie Target Advisers LLP	01786 406 581
Martin Cassels R&H Fund Services Limited	0131 524 6140
Fiona Harris / Tom Climie Quill PR	020 7466 5058 / 020 7466 5052

 

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