Target Healthcare is investing £45m (€51.2m) to acquire four care homes in Scotland.
The UK-listed care home investor said it has acquired a portfolio of three operational assets, and contracted on the forward commitment to acquire the fourth asset.
Target Healthcare said the three existing assets were acquired via a sale and leaseback. The fourth property, which is pre-let to the same operator, is currently under construction and expected to reach practical completion in summer 2026.
John Flannelly, head of investment at Target Fund Managers, said the acquisitions, which were part of the pipeline of assets referenced in a September disposal announcement, “demonstrate our deal execution capabilities and the efficient redeployment of capital into high quality real estate at an attractive and accretive blended net initial yield”.
Flannelly added: “We have a number of further transactions currently in due diligence and expect to be in a position to make further announcements regarding additional redeployment in due course.”
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