Business
Investment Update to 31 December 2017
Investment Update to 31 December 2017.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n \nRNS Number : 9125A Triple Point Social Housing REIT 04 January 2018 \n\n4 January 2018\nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\nINVESTMENT UPDATE TO 31 DECEMBER 2017\nThe Board of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to provide the following update on its investment activity for the period from IPO on 8 August 2017 to 31 December 2017.\n \nThe Company made a number of investments and in doing so has created a portfolio of regulated supported housing assets:1\n \n\n\n\n\nFunds invested (excluding purchase costs)\n\n\n£130.1 million\n\n\n\n\nNumber of properties\n\n\n115\n\n\n\n\nNumber of leases with Approved Providers*\n\n\n65\n\n\n\n\nApproved Providers with whom the Company has leases\n\n\n11\n\n\n\n\n*The portfolio is 100% let or pre-let. Some leases cover multiple properties.\n \nThe portfolio is also geographically diverse, currently spread across the following regions of England:\n \n\n\n\n\nNorth West\n\n\n38.7%\n\n\n\n\nNorth East\n\n\n18.7%\n\n\n\n\nWest Midlands\n\n\n14.6%\n\n\n\n\nEast Midlands\n\n\n8.8%\n\n\n\n\nYorkshire\n\n\n7.8%\n\n\n\n\nSouth\n\n\n4.9%\n\n\n\n\nSouth East\n\n\n3.8%\n\n\n\n\nLondon\n\n\n2.6%\n\n\n\n\nPercentages based on funds invested (excluding purchase costs).\n \nThe Company's delegated investment manager, Triple Point Investment Management LLP (\"Triple Point\"), has developed partnership programmes with a number of specialist vendors in the sector. Through these relationships, Triple Point has secured an attractive near-term off-market pipeline of more than 105 additional properties worth over £145 million that are allocated to the Company, on which it expects to contract over the next four months. \n \nIn addition, Triple Point continues to evaluate potential portfolio acquisitions and forward funding opportunities through its network of contacts, which primarily spans Registered Providers and developers, as well as investors working in the sector.\n \nChris Phillips, Chairman of the Company, commented:\n\"The Company has made an encouraging start, deploying £130.1 million of the IPO proceeds to date in assets which afford both high quality accommodation to some of the most vulnerable people in our society and the oppor...