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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Triple Point Social Housing Reit Plc | LSE:SOHO | London | Ordinary Share | GB00BF0P7H59 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.20 | -0.33% | 60.80 | 60.30 | 60.80 | 61.10 | 60.00 | 60.00 | 1,206,892 | 16:28:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 39.84M | 34.99M | 0.0889 | 6.84 | 239.23M |
TIDMSOHO
RNS Number : 5690Z
Triple Point Social Housing REIT
18 December 2017
18 December 2017
Triple Point Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the "Group")
ACQUISITIONS UPDATE
The Board of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to announce that the Group has completed the acquisition of six supported housing properties, comprising 88 units in total, for an aggregate purchase price of approximately GBP10.7 million (excluding costs). The properties are located in Lancashire (80 units) and Sussex (8 units).
The Group has entered into new FRI leases in respect of each of the properties for a period of of 20 years with the ability to extend to 25 years. These leases are with specialist Housing Associations, My Space Housing Solutions, Falcon Housing Association and Auckland Home Solutions which are Registered Providers (regulated by the Homes and Communities Agency).
The rents received under the leases are subject to annual, upward only rent reviews, increasing in line with Consumer Prices Index ("CPI"). The properties comprise specialist, high quality homes refurbished for individuals with mental health and other support and care care needs.
The properties are immediately income generating with a net intial yield in line with the Company's investment criteria and returns profile.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment (via Newgate below) Management LLP (Delegated Investment Manager) James Cranmer Ben Beaton Max Shenkman Justin Hubble Akur Limited (Joint Financial Tel: 020 7493 3631 Adviser) Tom Frost Anthony Richardson Siobhan Sergeant Canaccord Genuity Limited Tel: 020 7523 8000 (Joint Financial Adviser and Corporate Broker) David Yovichic Lucy Lewis Denis Flanagan Newgate (PR Adviser) Tel: 020 7680 6550 James Benjamin Em: triplepoint@newgatecomms.com Anna Geffert Lydia Thompson
The Company's LEI is 213800BERVBS2HFTBC58.
Further information on the Company can be found on its website at www.triplepointreit.com.
NOTES:
The Company invests in social housing assets in the UK, with a particular focus on supported housing. The assets within the portfolio will typically be subject to inflation-adjusted, long-term (from 20 years to 25 years), Fully Repairing and Insuring ("FRI") leases with Registered Providers. The portfolio will comprise investments into properties which are already subject to an FRI lease with a Housing Association, Local Authority or other regulated organisation, as well as forward funding of pre-let developments but will not include any direct development or speculative development.
There is increasing political and financial pressure on Housing Associations to increase their housing delivery and this is creating opportunities for private sector investors to participate in the market. The Group's ability to provide forward financing for new developments not only enables the Company to secure fit for purpose, modern assets for its portfolio but also addresses the chronic undersupply of suitable supported housing properties in the UK at sustainable rents and delivering returns to investors.
Triple Point Investment Management LLP (part of the Triple Point Group) is responsible for management of the Group's portfolio (with such functions having been delegated to it by Langham Hall Fund Management LLP, the Company's alternative investment fund manager).
The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 8 August 2017 and operates as a UK Real Estate Investment Trust.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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December 18, 2017 02:00 ET (07:00 GMT)
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