Impact Healthcare REIT - Resolving sole underperforming tenant issue
Impact Healthcare REIT has successfully negotiated the transfer of the operation of the homes leased to one of its 13 care home tenants, which, as previously disclosed, in H123 has not paid its contractual rent (3.4% of the group total). The transfer is structured to maintain continuity of staffing and care while generating operational improvements. Under the terms of the transfer, our forecasts for FY23 and FY24 are reduced but we expect full dividend cover to be maintained. Meanwhile, the broader portfolio continues to perform well, with 100% of rents received from each of the company’s other tenants, which has been the case since launch.
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