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Triple Point Social Housing REIT (Ticker: SOHO) is delighted to announce that it has successfully completed the acquisition of ten supported housing properties, and exchanged contracts on a further two properties, comprising 56 individual units in total, for an aggregate cost of approximately £14m.
The properties comprise specialist, adapted, high-quality homes for individuals with enduring mental health and other care needs. For each property, Triple Point has entered (or, for the properties yet to complete, will enter) into a lease for at least 20 years with a specialist regulated housing provider in order to provide long-term accommodation for the residents.
Max Shenkman, Head of Property Investment at Triple Point, commented: “We are delighted to have acquired these supported housing properties to help provide accomodation in areas of high demand across the country. We remain committed to investing in much-needed specialised supported housing designed to improve the wellbeing of people with long-term health needs, while saving the government money and generating resilient rental income. With a strong pipeline of acquisitions, we look forward to creating further positive impact in the months and years ahead”.
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