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Impact Healthcare REIT acquires two care homes for £12.9m

Baylham External

Impact Healthcare REIT has announced its £12.9m acquisition of two care homes near Ipswich.

Baylham Care Centre (pictured) is a 55-bed purpose-built care home, which is currently rated Outstanding by the Care Quality Commission (CQC). Barham Care Centre is a 43-bed care home, which is rated Good.

Barham was extended in 2017, when 17 bedrooms were added. There is a further asset management opportunity to extend the home through building 21 new bedrooms with full bathrooms, while removing 11 bedrooms in an existing single storey extension, adding a net 10 bedrooms to the home.

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The investment comprises one of the six target transactions that the Company included in its announcement on 15 April 2019. The homes will be leased on a 25-year basis to new operator for the Group, Optima Care.

Founded in 2004, Optima, which is the REIT’s ninth tenant, is a specialist health and social care provider with experience in operating dementia care homes for the elderly.

A spokesperson for the Impact Healthcare REIT said: “The Group has agreed exclusivity on a number of further acquisitions and continues to evaluate a strong pipeline of potential investment opportunities and expects to announce further acquisitions shortly.”

Tags : AcquisitionFinanceREIT
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The author Lee Peart

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