Target Healthcare, the London Stock Exchange-listed Real Estate Investment Trust and healthcare specialist investor, has announced the completion of a significant deal for a new development site in Cheshire.
Acquired for £9.7 million, the group revealed the acquisition of the site earlier this morning, along with the practical completion of their Birkdale care home as well as their three previously announced purchases located in Yorkshire and Wales.
Commenting on the deals, John Flannelly, Head of Investment at Target Fund Managers, said: “The Cheshire development follows the £81.3 million of acquisitions announced in November 2019, meaning we have now completed on the pipeline transactions identified at the time of the September 2019 fundraise[r].
“These transactions demonstrate our ongoing commitment to support the development of high-quality care homes across the country, further strengthen our relationships with existing tenants whilst allowing us to support a new operator, with proven expertise in the care sector, to enter the care home market.
“We are working on a number of other opportunities that, subject to terms being agreed and diligence successfully completed, would see the remaining available capital being deployed in Q1 2020.”