Acquisition

RNS Number : 6145N

Target Healthcare REIT Limited

30 July 2014

 



Target Healthcare REIT Limited

RNS Announcement

30 July 2014

Acquisition of Turnkey Care Home in Leicestershire

On 1 July 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 Hinckley, Leicestershire.

Having now reached practical completion, the Company confirms that it has acquired the property for a total consideration of approximately £6.0 million including acquisition costs.

As previously reported, the care home will be leased to operator Care Concern Group 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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