Impact Healthcare REIT plc has completed the acquisition of three care home properties (one in Somerset and two in Devon) with an existing group tenant, Welford Healthcare, for €29.4m (£25m).
The portfolio includes a 61-bedroom specialist dementia nursing home in Devon which was purpose-built in 2011 and benefits from 100% en-suite wet rooms, and two part-converted and extended nursing and residential homes in Devon and Somerset registered for 54 and 69 elderly clients, respectively. All three properties are well located with long-standing exceptional local reputations for providing high-quality care within the local community. The homes have CQC ratings ranging between Good and Outstanding and benefit from favourable underlying demographics in the local catchment areas with attractive demand/supply fundamentals.
