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.
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.”