Civitas Social Housing PLC (LON:CSH) has completed the acquisition of 10 supported living properties across Hertfordshire, Essex, Suffolk and Wales.
The real estate investment trust said the total consideration (excluding purchase costs) for the acquisition was £8.6mln.
The properties are leased to the Inclusion Housing Community Interest Company, with rents adjusted annually in line with the consumer price index over the full term and are subject to a lower limit of inflation of 0% per annum and a maximum indexation of 4% per annum. Additionally, Inclusion is a counterparty to existing leases within the company's portfolio.
Civitas said the acquired properties are “immediately income-generating” with an initial net yield in line with the company’s present expectations.