Impact Healthcare REIT issues new equity to acquire care homes as inflation rises

clock • 2 min read
Issuing shares at 117p per share.

Issuing shares at 117p per share.

Impact Healthcare REIT is raising new equity, the target amount of which has not been stated, to acquire a pipeline of care homes, as investors scramble to protect investments from rising inflation.

The healthcare real estate trust is issuing shares at 117p per share, a discount of 3.6% to its closing price per share of 122.6p as of 21 June 2022, and a premium of 1.8% to its net asset value per share of 114.9p as of 31 March. The company said it intends to acquire 27 care homes for a total value of £169m, using £70m of existing resources including available debt and the issuance of new debt. It said it requires new equity to complete all transactions. The company reported a European Public Real Estate Association (EPRA) certified net initial yield of 6.7% as of March 31 2022. ...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week