Healthcare real estate firm drives diversification strategy with £6.95m acquisition
A London-based healthcare real estate trust has exchanged contracts to acquire a Somerset care home in a £6.95m deal.
Impact Healthcare REIT (Impact) has agreed to acquire Argentum Lodge Care Home in the village of Nailsea, around 10 miles south west of Bristol.
The group has agreed to appoint its existing tenant Welford as the new operator of Argentum Lodge on a 25-year full repairing and insuring lease.
The acquisition will leave Welford now operating five homes for Impact across the country, with a combined total of 230 beds.
Impact specialises in healthcare real estate assets, primarily care homes, with a focus on giving investors exposure to a diversified portfolio of UK properties.
The firm hopes that this latest deal will build on its geographic and tenant diversification, and follows its acquisition of Birchlands Nursing Home on the outskirts of York earlier this year.
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