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Civitas Social Housing Spends GBP6 Million On Property Portfolio

LONDON (Alliance News) - Civitas Social Housing PLC said on Monday it has acquired a portfolio ...

Alliance News 22 May, 2017 | 8:38AM
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LONDON (Alliance News) - Civitas Social Housing PLC said on Monday it has acquired a portfolio of regulating social housing for a total of GBP6.0 million.

The portfolio comprises of an undisclosed number of supported living properties with 52 tenancies in the North East of England.

All properties in the portfolio are subject to a 25-year lease with specialist housing association Kindstream Housing CIC, with rents established by the relevant local authority and adjusted annually by inflation over the full period.

Civitas said the purchases were funded through cash resources, with the intention to apply leverage in due course.

Shares in Civitas Social Housing were up 0.9% at 112.75 pence on Monday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Civitas Social Housing Ord 88.30 GBX -0.11 -

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