Target Healthcare REIT Ltd Announces Property Purchase; Publication of Prospectus In Relation To Placing And Offer For Subscription Of Up To 45 Million New Ordinary Shares
Target Healthcare REIT Ltd announced that it has acquired two purpose-built care homes in the North West of England, for approximately GBP11.5 million including acquisition costs. Located in Longridge, near Preston, Lancashire and St Helens, Merseyside, both properties are modern, purpose-built homes and were acquired from a private investor. The acquisition is in accordance with the Company's investment policy and the consideration is in line with market value. The homes are well appointed and benefit from generously proportioned bedrooms each of which has en-suite wet room facilities. Accommodating up to 154 residents across the two homes, the public spaces are welcoming and spacious, and on-site facilities include a variety of quiet lounges and dining areas as well as a hair-dressing salon and landscaped gardens. Accordingly, the Company also announced that it has received approval from the UK Listing Authority to publish its prospectus in relation to the placing and offer for subscription of up to 45 million new ordinary shares in the capital of the Company together with the option to increase the size of the Issue by a further 30 million ordinary shares and the application for the admission of these new ordinary shares to the premium segment of the Official List and to trading on the London Stock Exchange's main market.
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