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

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

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