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Triple Point Social Housing REIT Buys 11 Properties For GBP26 Million

LONDON (Alliance News) - Triple Point Social Housing REIT PLC said Thursday it had acquired 11 ...

Alliance News 7 December, 2017 | 10:44AM
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LONDON (Alliance News) - Triple Point Social Housing REIT PLC said Thursday it had acquired 11 supported housing properties in a GBP25.9 million portfolio deal.

The real estate investment company said the properties comprised of 160 units and were located across the Midlands and north of England. They are composed of specialist homes for those with mental health and other complex care needs.

All the properties have full repairing and insuring leases which can be extended at the sole option of TPSH so that they have a remaining lease term of between 25 and 35 years.

All leases are with regulated providers being either regulated by the Homes and Communities Agency or by the Care Quality Commission.

The properties also come with annual, upward-only rent reviews. The rent increases will be in line with the consumer prices index.

The current acquisition follows a string of deals since its GBP200 million IPO in August. Last week it acquired four properties for GBP10.4 million. In November it acquired a total six properties for a combined GBP11.3 million. In October, the company acquired fourteen properties for GBP15.7 million.

The company added it had an acquisition pipeline of 25 properties which it anticipates to exchange contracts for over the next twelve months.

Shares in Triple Point Social Housing were 0.4% higher at 104.00 pence on Thursday.

By Ahren Lester; ahrenlester@alliancenews.com.

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Triple Point Social Housing REIT Ord 104.38 GBX -0.12 -
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