Impact Healthcare REIT acquires U.K. care home portfolio

Impact Healthcare REIT plc has invested in a portfolio of six care homes, which were owned and operated by Morris Care, for a sales price of €63.3 million ($68 million).

The vendors have granted a license for the homes to continue to trade under the Morris Care brand for three years and the operational management team of Morris Care will transfer to Welford Healthcare, which will operate the homes. Welford is an existing Group tenant and the investment will take the Group's relationship with Welford to 18 care homes across England with 1,087 beds.

The portfolio has 438 high-quality beds, of which 400 have en suite bathrooms, with five homes in Shropshire and one in Cheshire. The homes each have an established track record of delivering strong operational performance. Four of the homes have EPC ratings of B, and two are rated C, with outline strategies in place for achieving an EPC rating of B.

The assets include the 80-bed Isle Court Nursing Home; 63-bed R