Care Homes Portfolio

Priory Care Home
Leeds, Yorkshire
Description
Care home
Size
75 en-suite bedrooms
Acquisition Structure
Built asset
Date Acquired
June 2017
Rent Review
Retail Price Index
Tenant Guarantor
Priory Investments Holdings Limited
Lease Term
22.8 years, without break
Priory Care Home Portfolio
Diverse locations across Northern Ireland
Description
Portfolio of three specialist care homes
Acquisition Structure
Pre-let forward commitment and built asset mix
Date Acquired
August 2017
Rent Review
Fixed uplifts of 2.5% pa
Tenant Guarantor
The Priory Group
Lease Term
29 years, without break
Prime Life Care Home Portfolio
Leicestershire and Lincolnshire
Description
Five modern, purpose built care homes
Acquisition Structure
Built assets
Date Acquired
November 2017
Rent Review
Retail Price Index
Tenant Guarantor
Prime Life
Lease Term
31 years, without break
Disposal
Following an unsolicited approach, the Company sold part of this portfolio to a UK pension fund in June 2018.  The sale generated a 56% geared IRR for the Company and reflected a 17% premium to latest book value
Bupa Care Home
Bristol
Description
Residential and nursing care home
Acquisition Structure
Built asset
Date Acquired
February 2019
Rent Review
Retail Price Index
Tenant Guarantor
Bupa Care Homes (CFG) plc
Lease Term
23.6 years, without break
Bupa Care Home
Birmingham, West Midlands
Description
Care home
Acquisition Structure
Built asset
Date Acquired
July 2019
Rent Review
Retail Price Index
Tenant Guarantor
Bupa Care Homes (CFG) plc
Lease Term
23 years, without break