Impact Healthcare continues strong growth – Impact Healthcare REIT, which owns a diversified portfolio of UK healthcare assets, reported its NAV had increased to just under £300m in the quarter to the end of June.
NAV stood at £299.9m, or 104.67 pence per share, compared to £200.2m or 104.18 pence per share at the end of March 2019.
The group has also declared its second interim dividend for the year, with shareholders set to receive 1.5425 pence per share for the most recent quarter.
Impact’s portfolio leapt 17.9% in value during the period, to £271.6m, following £35.9m of acquisitions, £2m of improvements to its care homes and a 1.4% net value uplift of £3.3m.
At the end of June, the portfolio comprised 79 residential care homes let to seven tenants on fixed-term leases of 20 to 25 years, with no break clauses and subject to annual upward-only Retail Price Index-linked rent reviews (with a floor and cap at 2% a year and 4% a year).
The group announced in May that it had raised £100m through an oversubscribed equity issue and has identified a pipeline of investment opportunities in which to continue to deploy that.
IHR : Impact Healthcare continues strong growth