Acquisition

RNS Number : 0260Z

Target Healthcare REIT Limited

08 December 2014

 

Target Healthcare REIT Limited

RNS Announcement

8 December 2014

Acquisition of Care Home in Hastings, East Sussex

On 4 September 2014, Target Healthcare REIT Limited ("the Company"), a specialist investor in UK care homes, announced it had exchanged contracts to acquire a new, purpose-built care home in Hastings, East Sussex.

As the property has now reached practical completion and been registered with the Care Quality Commission, the Company confirms that it has acquired the property for a total consideration of approximately £8.0 million including acquisition costs.

As previously reported, the care home will be leased to operator Hastings Court for a period of 35 years and the transaction represents an initial yield in excess of 7%.

All enquiries:

Kenneth MacKenzie Target Advisers LLP	01786 406 581
Martin Cassels R&H Fund Services Limited	0131 524 6140
Fiona Harris / Sam Emery Quill PR	020 7466 5058 / 020 7466 5056

 

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