Business
Acquisitions
Acquisitions.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n \nRNS Number : 5089W Triple Point Social Housing REIT 15 November 2017 \n\n15 November 2017\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 acquisition of three supported housing properties, comprising 23 units in total, for an aggregate purchase price of approximately £4.2 million (excluding costs). The properties are located in: Lancaster, Lancashire (5 units); Southampton, Hampshire (12 units); and Wellingborough, Northamptonshire (6 units).\n \nThe Group has entered into new 20-year FRI leases, with the ability to extend to 25 years, in respect of each of the properties. These leases are with specialist Housing Associations, Auckland Home Solutions, Falcon Housing Association and Westmoreland, which are all Registered Providers (regulated by the Homes and Communities Agency).\n \nThe rents received under the leases are subject to annual, upward only rent reviews, increasing in line with Consumer Prices Index (\"CPI\"). The properties comprise specialist, high quality homes adapted for individuals with mental health and other complex 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 \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\nLydia Thompson\n\n\n\n\n\n\n\n \nThe Company's LEI i...