Investors pour £22m into real estate trust Impact Healthcare
Investors have poured more than £22m into a London-listed healthcare real estate investment trust (REIT), the company’s board announced today.
Impact Healthcare REIT, which specialises in care home investments, has grown its market capitalisation north of £450m since listing on London’s main market in 2017.
The funds from a share placing, which the board announced just two weeks ago, will help the company continue its acquisition spree, which most recently saw it snap up three homes in the south west for £25m.
The company is targeting dividend growth of two per cent to 6.54p per share by the end of the year.
“Whilst equity capital market conditions remain challenging, the proceeds of this fundraise will allow the company to progress its acquisition pipeline,” chairman Rupert Barclay said in a statement.
Barclay added that it will also provide the company with further scope to invest into more asset management initiatives, “thereby modernising, extending and improving homes in the portfolio for the benefit of shareholders, tenants and their underlying residents.”