REG - Target Healthcare - Acquisition <Origin Href="QuoteRef">THRLT.L</Origin>

Target Healthcare ReitAnnouncement

29/10/2014 15:26

RNS Number : 0543Q
Target Healthcare REIT Limited
27 August 2014
Target Healthcare REIT Limited
RNS Announcement
27 August 2014
Acquisition of a Purpose-Built Care Home in York
In April 2014, Target Healthcare REIT Limited ("the Company"), a specialist investor in quality UK care homes, announced it had exchanged contracts to acquire a modern, purpose-built care home in York. The care home was under construction and was due to be completed in summer 2014.
Having now reached practical completion, the Company is able to confirm that it has acquired the property for a total consideration of approximately 5.1 million including acquisition costs. As part of the transaction, the Company had provided a short-term loan facility to Ideal Carehomes Group to fund the completion of the property and this has been repaid from the consideration proceeds of the sale.
As previously reported, the care home is leased to operator Ideal Carehomes Group for a period of 35 years.
All enquiries:
Kenneth MacKenzie
Target Advisers LLP
01786 406 581
Martin Cassels
R&H Fund Services Limited
0131 524 6140
Fiona Harris / Tom Climie
Quill PR
020 7466 5058 / 020 7466 5052

This information is provided by RNS
The company news service from the London Stock Exchange
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