Target Healthcare REIT sells two care homes – Target Healthcare has completed the sale of two care homes in Surrey and Essex, the price has not been disclosed. The company received offers for the homes at a combined price greater than 5% above the 31 March 2019 book value. These disposals represent less than 3% of the portfolio’s value.
The announcement says that the Group has a strong pipeline of acquisition opportunities and anticipates that the sale proceeds will be reinvested in the near future.
Scott Steven, head of Asset Management at Target Fund Managers, commented: “These disposals are the result of our commitment to pro-actively manage the portfolio and progress strategies relevant for each home. We remain focused on maintaining an attractive and highly diversified sustainable income stream for our investors, as well as exploring initiatives for income and capital growth. We will continue to progress both investment and asset management opportunities in order to optimise the performance of the portfolio.”
THRL : Target Healthcare REIT sells two care homes