Impact Healthcare REIT has announced the acquisition of Birchlands Nursing Home for £3.9m.
Initial rent for the 51-bed, purpose-built home on the outskirts of York, will be £300,000.
Impact said Birchlands, which was rated ‘good’ in its CQC last inspection, currently had 100% occupancy.
The Group has agreed to reappoint existing tenant, Welford, as the home’s operator.
The terms of the new 25-year full repairing and insuring lease with Welford are the same as the Group’s existing leases with Welford. The deal represents the Group’s third lease with Welford, which now operates four homes with 174 beds for Impact.
Impact Healthcare REIT gives investors exposure to a diversified portfolio of UK healthcare real estate assets, in particular care homes.
Impact 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.”