Care homes investor Target Healthcare REIT has bought two properties in the UK for £37m (€41.8m).
The listed firm said it bought the luxury care homes in Cirencester and Camberley. Both assets are let on 30-year leases.
The Cirencester care home, Stratton Court, opened in April this year and comprises 73 bedrooms. Kings Lodge in Camberley opened in July 2017 and comprises 64 bedrooms.
Target Healthcare’s portfolio as at the end of the first quarter of this year comprised 53 assets with a total value of around £341.4m.
John Flannelly, the head of investment at Target Fund Managers, said: “We are delighted to welcome our twenty-first tenant. This transaction marks a further deployment of the equity we raised in February of this year, following the acquisition of assets in Shrewsbury and Preston in March.
“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.”
