Target Healthcare REIT (GB:THRL) has released an update.
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Target Healthcare REIT has successfully sold four of its UK care homes for £44.5 million, a sale that not only exceeds the portfolio’s previous carrying value but also lowers the company’s net loan-to-value ratio by 3.8%. The move is strategic, reducing geographic concentration in Yorkshire and the Humber, and increasing the portfolio’s average unexpired lease term to 26.3 years. This transaction highlights Target Healthcare’s adept asset management, achieving an annualized return of over 7% on these properties.
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