Business
Portfolio Acquisition
Portfolio Acquisition.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n \nRNS Number : 7177Z Triple Point Social Housing REIT 19 December 2017 \n\n19 December 2017\nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\nPORTFOLIO ACQUISITION\nThe Board of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to announce that the Group has completed the acquisition of a portfolio of six supported housing properties (the \"Portfolio\"), comprising 40 units in total, for a purchase price of approximately £5.5 million (excluding costs). The properties are located in Bradford (14 units), Skegness (14 units), North Shields (10 units) and two units in Cheshire (Ellesmere Port and Chester).\n \nThe properties acquired as part of the Portfolio all benefit from FRI leases which can be extended at the sole option of the Company such that they have a remaining lease term of 30 years. The leases are with My Space Housing Solutions, a Registered Provider 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 needs and learning difficulties.\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 Comp...