Target acquires care homes on Tyneside

Target acquires care homes on Tyneside

Target Healthcare REIT has completed the acquisition of two purpose-built care homes on Tyneside for approximately £12.75 milion.

The properties were built in 2010 and 2015 and comprise a total of 169 bedrooms.  The homes will continue to be run by the incumbent operator, who will become the 10th tenant of the Group, who have invested in excess of £160 million in high quality care homes since 2013.

Kenneth MacKenzie, managing partner of Target Advisers LLP, commented: “We are delighted to announce this transaction, with the addition of two care homes of a very high standard to the Group’s growing portfolio along with a further expansion of our geographical and tenant base.”

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