Civitas Social Housing, a care-based housing and healthcare REIT, has acquired 15 supported living and care facilities in South Wales, Australia, for a total consideration of £10.9 million ($15 million).
The portfolio provides 51 beds and long-term support for individuals with learning disabilities and mental health care needs along with dedicated facilities to develop and enhance independent living skills.
The properties are subject to 25-year leases with Auckland Home Solutions CIC. Auckland is a counterparty to existing leases within the company’s portfolio.
The transaction represents the first to be financed with the proceeds from the recently secured debt facility with M&G.
Civitas continues to focus on the acquisition of properties that have been significantly adapted or purpose-built for the delivery of mid- to higher-acuity care and has a significant pipeline
