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

clock • 2 min read

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 for free

  • 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