Fri, 30 Jun 2017 | BUSINESS SALE
Impact Healthcare REIT, a real estate investment trust company, has purchased a Leicester-based care home for £3.4 million.
Its purchase of Saffron Court was funded by Impact’s cash resources and swiftly follows its acquisition of the £148 million Seed Portfolio of care homes.
The newly bought care home has 48 beds and 25 associated assisted living flats. The terms of the lease are similar to those for the Seed Portfolio, with a 20-year term, with the potential to extend for another ten years.
“We are pleased to have completed the acquisition of Saffron Court on the terms set out at our IPO,” said Rupert Barclay, non-executive chairman.
“This investment, along with the Seed Portfolio acquired on 4 May 2017, should provide the company with stable and secure cash flows that support the Company’s dividend policy.”
The Seed Portfolio – 56 care homes with a total 2,479 beds - deal was the first for Impact after its IPO in March 2017. Acquired debt-free, the properties remain leased to tenants, Minster Group and Croftwood Group, for £11.7 million a year.
Find care businesses for sale here
Subscribe to Business Sale Report here
The Company is a highly regarded building contractor, predominantly providing its services to clients in the commercial and retail sectors. The Company has experienced considerable growth since its foundation, with the strength of its workforce and s...
LEASEHOLD
Highly successful specialist agency operating for over nine years. Provides comprehensive cross-border debt recovery services for overseas banks with large UK portfolios of credit card debt. Primarily recovers debt from UK residents which was incurre...
LEASEHOLD
Provides cost-efficient, reliable general haulage services across the UK, specialising in same-day and next-day deliveries. Operating nationally, the company currently caters to 25 active clients nationwide, all of whom provide reliable, repeat busin...
LEASEHOLD
|
15
|
|
Jan
|
Buyer sought for portfolio of pubs | BUSINESS SALE
Five pubs that formerly operated under the Authentic Alehous...
|
14
|
|
Jan
|
Acquisitive RSK Group completes trio of deals | BUSINESS SALE
Cheshire-based technical services consultancy RSK Group has ...
|
13
|
|
Jan
|
Heat transfer equipment manufacturer falls into administration | ADMINISTRATION
Coventry-based Covrad Heat Transfer has fallen into administ...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources