Business
ACQUISITIONS UPDATE
ACQUISITIONS UPDATE.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n \nRNS Number : 4070V Triple Point Social Housing REIT 23 July 2018 \n\n23 July 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 (tickers: SOHO; SOHC) is pleased to announce that the Group has completed the acquisition of 11 supported housing properties comprising 74 units in total, for an aggregate consideration of £15.2 million (excluding costs). The properties are located in Greater London (56 units) and the Midlands (18 units).\n \nThe Group has entered into new FRI leases in respect of the properties for a minimum period of 20 years, with the ability to extend to 25 years (22 years for one property), with specialist housing associations, Chrysalis Supported Association, Encircle and Inclusion Housing. These housing associations are regulated by the Regulator of 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 and will generate net initial yields in line with the Company's investment criteria and returns profile. \n \nThe properties comprise specialist, high quality homes refurbished for individuals with mental health and other support and care needs. \n \nFOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:\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\nLucy Lewis\n\n\n\n\n\n\n\nDenis Flanagan\n\n\n\n\n\n\n\nAndrew Zychowski\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\nPatrick Hanrahan\n\n\n\n\n\n\n \nThe Company's LEI is 213800BERVBS2HFTBC58.\n \nFurther information on the Company can be found on its website at www.tr...