Stirling-based Target Healthcare buys care homes for £14.3m
ByThe Courier Reporter
Stirling-based Target Healthcare has bought two new care homes in the Midlands for £14.3 million.
The real estate investment trust which specialises in residential homes for the elderly said the sites, in Birmingham and Nottingham, are just the latest to be acquired under a sale and leaseback arrangement and boast initial yields in excess of 7%.
Operator Bondcare will continue to run the properties, which offer residential, nursing and dementia care over a total of 181 rooms.
Additional deals worth around a further £50m are in advanced negotiations, Target’s adviser said.
Stirling-based Target Healthcare buys care homes for £14.3m