UK care homes investor Target Healthcare REIT has added two properties worth £18.6m (€20.5m) in total to its portfolio.
The London-listed investor said it has completed the acquisition of the Moors Care Centre in Ripon, Yorkshire and the Wharf Care Centre in Stourport, West Midlands.
The Moors Care Centre was constructed in 2015 and comprises 70 bedrooms each with full en-suite wetroom facilities.
The Wharf Care Centre opened in 2018 and comprises 67 bedrooms with full en-suite wetroom facilities.
The homes are let on 35-year leases to a subsidiary of national care home operator Maria Mallaband Care Group, Target Healthcare REIT said.
John Flannelly, head of investment at Target Fund Managers, said: “This transaction adds two further high-quality assets, in strong locations, to the portfolio and also allows us to welcome Maria Mallaband, a highly regarded national operator, to our tenant group.”
Flannelly said the group now has a diversified portfolio consisting of 63 assets [including developments], leased to 26 different operators.
“These acquisitions take us closer towards full deployment of our available capital and we continue to progress our identified pipeline of investment opportunities, with further announcements expected in the near future,” he said.
