Business
Acquisition
Acquisition.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n \nRNS Number : 8545D Triple Point Social Housing REIT 05 February 2018 \n\n 5 February 2018\nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\nACQUISITIONS UPDATE\nThe Board of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to announce that the Group has completed the acquisitions of three supported housing properties, comprising 20 units in total, for an aggregate purchase price of approximately £3.6 million (excluding costs). The properties are located in Berkshire (6 units), County Durham (6 units) and Lanacashire (8 units).\n \nThe Group has entered into new FRI leases in respect of each of the properties for a period of 20 years with the ability to extend to 25 years. These leases are with specialist Housing Associations, Auckland Home Solutions CIC, Bespoke Supportive Tenancies Limited and Encircle Housing, which are Registered Providers (regulated by the Regulator for Social Housing). \n \nThe rents received under the leases are subject to annual, upward only rent reviews, increasing in line with the Consumer Prices Index (\"CPI\"). The properties comprise specialist, high quality homes refurbished for individuals with mental health and other support and care needs.\n \nThe properties are immediately income generating with a net intial yield in line with the Company's investment criteria and returns profile.\n \n \nFOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:\n\n\n\n\nTriple Point Investment Management LLP \n(Delegated Investment Manager)\n\n\n(via Newgate below)\n\n\n\n\nJames Cranmer\n\n\n\n\n\n\n\nBen Beaton\n\n\n\n\n\n\n\nMax Shenkman\n\n\n\n\n\n\n\nJustin Hubble\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAkur Limited (Joint Financial Adviser)\n\n\nTel: 020 7493 3631\n\n\n\n\nTom Frost\n\n\n\n\n\n\n\nAnthony Richardson\n\n\n\n\n\n\n\nSiobhan Sergeant\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCanaccord Genuity Limited (Joint Financial Adviser and Corporate Broker)\n\n\nTel: 020 7523 8000\n\n\n\n\nDavid Yovichic\n\n\n\n\n\n\n\nLucy Lewis\n\n\n\n\n\n\n\nDenis Flanagan\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNewgate (PR Adviser)\n\n\nTel: 020 7680 6550\n\n\n\n\nJames Benjamin\n\n\nEm: [email protected] \n\n\n\n\nAnna Geffert\n\n\n\n\n\n\n\n \nThe Company's LEI is 213800BERVBS2HFTBC58.\n \nFurther infor...