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
Specialises in the provision of a range of premium pastries, hot and cold snacks, speciality cakes and freshly baked breads for major supermarkets and local businesses across the North East. Highly skilled and experienced workforce whose professional...
The business has been operated by the current vendors for over 25 years and this is the first time the site has been advertised on the open market for over 100 years. The business has built up an enviable reputation throughout the area for quality an...
Well-established and very popular MOT station and vehicle repair business Staffordshire. The business was established by our client in 2005 and is only now being offered to the market due to our clients’ desire for change of direction and to concentr...
IRIS Software Group has finalised the agreement of intent to...
Engineering and services group NG Bailey’s strategic a...
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