StockMarketWire.com - Target Healthcare said it had completed the acquisition of a property in Formby, Merseyside for around £6.9m.

The home, which opened following development completion in late 2017, comprised 40 bedrooms with full en suite wetroom facilities.

It was let on a 35 year lease with an RPI-linked cap and collar to Athena Healthcare group.

Athena had two other homes under lease and two further under forward fund agreements with Target Healthcare expected to complete later in 2019.

'This represents another high standard addition to the portfolio, in an area with a shortage in provision of quality care homes,' head of investments John Flannelly said.

'It allows us to continue to support the development of homes by the Athena Healthcare team, who have demonstrated a commitment to providing the best standard of care, in line with our ethos.'

'We currently have a number of other acquisitions in advanced due diligence, as well as a large pipeline of transactions in earlier stage assessment, and expect to make further announcements in the near future.'




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