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The information contained herein and on the pages that follow does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or in any jurisdiction in which such an offer or solicitation would be unlawful. Triple Point Social Housing REIT plc (the "Company") has not been and will not be registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act") and, as such, holders of the securities referred to herein and on the pages that follow will not be entitled to the benefits of the Investment Company Act. No offer, sale, resale, pledge, delivery, distribution or transfer of the securities referred to herein and on the pages that follow may be made except under circumstances that will not result in the Company being required to register as an investment company under the Investment Company Act. The securities referred to herein and on the pages that follow have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered, sold, resold, pledged, delivered, distributed or transferred, directly or indirectly, into or within the United States or to, or for the account or benefit of, US persons as defined in Regulation S under the Securities Act ("US Persons"), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States and in a manner which would not require the Company to register under the Investment Company Act. There will be no public offer of the securities referred to herein and on the pages that follow in the United States, Australia, Canada, Japan or South Africa.
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The Board of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to announce that the Group has completed the acquisitions of 10 supported housing properties, comprising 60 units in total, for an aggregate purchase price of approximately £10.7 million (excluding costs). The properties are located in Gloucestershire (29 units), Leicestershire (28 units) and Northumberland (3 units).
The Group has entered into new FRI leases in respect of each of the properties for a period of 20 years with the ability to extend to 25 years. These leases are with specialist Housing Associations, Auckland Home Solutions CIC and Westmoreland Supported Housing,which are Registered Providers (regulated by the Regulator for Social Housing*).
The rents received under the leases are subject to annual, upward only rent reviews, increasing in line with the Consumer Prices Index ("CPI"). The properties comprise specialist, high quality homes refurbished for individuals with mental health and other support and care needs.
The properties are immediately income generating with a net intial yield in line with the Company's investment criteria and returns profile.
* As published on 11 January 2018, the regulation of social housing is the responsibility of the Regulation Committee, a statutory committee of the Homes and Communities Agency ("HCA"). The organisation refers to itself as the Regulator of Social Housing in undertaking the functions of the regulatory committee.