Newly created real estate investment trust (REIT) Impact Healthcare plans to raise £160m through an initial public offering on the London Stock Exchange.
The IPO is being launched to finance the acquisition of 58 residential care homes, Global Capital reports.
Impact Healthcare said the homes represented a “significant investment opportunity” due to the ageing population and strains on the NHS.
The homes are to be leased to tenants for 20 years for an annual charge of £11.7m.
They are currently managed by Minster Group and Croftwood Group.
Impact Healthcare is managed by Carne Global AIFM Solutions, a leading provider of independent governance and distribution support for the asset management industry.
Target Healthcare REIT also recently raised a £84m fund for investors wishing to buy into the UK care sector (see Target Healthcare REIT raises £84m for investment into UK care homes).