Target Healthcare REIT has raised £125m through a “significantly oversubscribed” share issue.
Due to strong demand from investors combined with the pipeline of attractive investments properties available, the REIT said it has increased the size of the Issue from £100m to £125m.
Malcolm Naish, Chairman of the Company, (pictured) said: “We are extremely grateful to both our existing and new shareholders for their support with this considerably oversubscribed equity raise.
“Our conviction in both the quality of our existing portfolio, which is characterised by its inflation linked, long-income characteristics, as well as the compelling investment opportunity in the part of the care home market that we are focused on, is steadfast.
“We look forward to deploying the proceeds into high quality, fit for purpose homes with strong sustainability credentials, further diversifying the portfolio whilst simultaneously playing a role in meeting a key societal challenge.”
A spokesperson for the REIT told CHP its Investment Manager currently had its strongest pipeline of acquisition opportunities to date, including a major portfolio of 18 care homes which the company has entered into an exclusivity agreement to acquire.