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Civitas Social Housing acquires supported living, care facilities in South Wales for £10.9m
StockMarketWire.com
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Care-based housing company Civitas Social Housing said it had completed the acquisition of 15 supported living and care facilities in South Wales for £10.9 million.
The portfolio would provide 51 beds and long-term support for individuals with learning disabilities and mental health care needs, the company said.
The properties were subject to 25-year leases with Auckland Home Solutions with rents adjusted annually in line with CPI over the full-term and were subject to a lower limit of inflation of 0% per annum and a maximum indexation of 4% per annum.
'The properties are immediately income generating with an initial net yield in line with the company's present expectations,' it added.
Story provided by StockMarketWire.com
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