Target Healthcare (THRL): Acquisition of two care homes for £37m

Published on 29-06-2018 07:41:23
Author Sparks Team

THRL has announced the acquisition of two luxury, high quality care homes in Cirencester and Camberley, for a total consideration of £37 million.

The two properties are let to subsidiaries of Aura Care Living on 30 year fully repairing and insuring occupational leases with RPI-linked rent increases subject to cap and collar. Aura becomes the 21st tenant of THRL, providing further tenant diversification for the latter. The yield of the acquired properties is representative of assets of a similar standard and location within THRL’s portfolio.

John Flannelly, Head of Investment at Target Fund Managers, commented: “We continue to have a strong pipeline of potential investments that we are currently working on and we hope to make additional announcements in the near future as we continue to prudently grow the portfolio and improve the quality, diversity and visibility of our rental income.”

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