Target Healthcare REIT - Enhanced portfolio metrics and interest savings
Target Healthcare REIT has sold four of its care homes for £44.5m to the incumbent tenant, modestly ahead of the carried value. The homes have performed well since being acquired as part of the significant portfolio transaction in late 2021, but their sale enhances key portfolio average metrics such as age, floor space and unexpired lease term, has been completed at a lower yield than the portfolio average and enables the company to reduce exposure to more expensive debt.Target Healthcare REIT is engaged in the investment into care homes properties in the United Kingdom. Investment Manager: Target Advisers LLP
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