Specialist investor in care homes acquires a portfolio of four new purpose built homes

Target Healthcare REIT Ltd has acquired the freehold of four new care homes in the Midlands from Ideal Carehomes Group, which is part of the LNT Group.

The purpose built care homes in Castleford, Nottingham, Leicester and Newark on Trent were all completed in the last year. All rooms at the homes have en suite facilities and each home has specially designed public spaces where residents and visitors can socialise.

It is the company’s second acquisition since it listed on the London Stock Exchange at the start of last month.

Speaking about the acquisition Kenneth Mackenzie, managing partner of Target Advisers LLP, said: “This second acquisition is another excellent deal in terms of the caring ethos of the operator, the quality of the homes and the professional staff who provide such excellent care that focuses on the residents’ personal choices and independence.

“The deal, coming so swiftly after our first, also keeps us well on track to invest available funds by October.

“We continue to seek out investment opportunities in a growing market but we will be very strict about only committing funds to acquiring first class care homes run by those operators who show a strong focus on the care of the customer.

“Many of the Ideal Carehomes Group staff are shareholders in the LNT Group, and we are very conscious that good quality care is delivered by the carers in these homes day by day.

“It is pleasing to see them sharing in the success of the group.”