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
Delivers efficient and bespoke solutions to UK-based clients operating across a diverse range of sectors. Services offered include manned guarding; mobile patrols; front of house; key holding and alarm response; CCTV services, access control and door...
LEASEHOLD
Offers a wide range of fashionable, chic and affordable clothing items for customers throughout the UK and internationally. Retails its products in sizes 8 to 32, maintaining its price point across the range. Achieved an ‘Excellent’ rating on Trustpi...
LEASEHOLD
Handles all aspects of business- and consumer-focused market research. Utilises extensive bespoke facilities to carry out qualitative and quantitative research. Benefits from an excellent reputation, having been in operation for over 30 years.
LEASEHOLD
|
27
|
|
Oct
|
Dog treats company acquired by Spectrum Brands | BUSINESS SALE
Nottingham-based pet treat and toy maker Armitage Pet Care h...
|
26
|
|
Oct
|
Legal & General sells personal investing business to Fidelity | BUSINESS SALE
Legal & General Group has agreed the sale of its personal in...
|
23
|
|
Oct
|
Worcestershire carpet maker secures £218m acquisition war chest | BUSINESS NEWS
Worcestershire-based carpet maker Victoria has secured inves...
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