Total property acquired by Triple Point reaches £14m
Triple Point Social Housing REIT (LON:SOHO) confirmed on Wednesday that it has completed the acquisition of 10 supported residential properties.
Triple Point has signed contracts for two further properties, taking the total to 56 homes and costing around £14m.
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The properties are geographically spread across the UK, with 18 in the North West, 18 in Yorkshire and 20 in the South East.
Triple Point has entered into at least 20-year lease agreements with regulated housing providers for each property to provide long-term accommodation for residents.
Triple Point uses private capital to fund the acquisition or development of new or newly renovated homes in the community for people in need of long-term care, with rents not funded by the government. Masu.
“We are pleased to have acquired these supported residential properties to help us provide accommodation in high-demand areas across the country,” said Max Shenkman, head of real estate investment at Triple Point. said.
“We are committed to investing in much-needed special needs housing designed to improve the wellbeing of people with long-term health needs while saving government money and generating stable rental income. We remain committed and look forward to creating even more positive impact in the coming months and years with our strong acquisition pipeline.”
Triple Point was one of three organizations to present investment opportunities at February’s UK Investor Magazine virtual investor conference.
The purpose of the trust is to enable investors to earn stable long-term returns while having a positive impact on society. Their mission aims to address the ongoing housing crisis by investing in the UK’s social housing sector.
The REIT provides housing tailored to the needs of vulnerable adults who require long-term care and support. Triple Point Social Housing creates a long-term investment stream for investors from tenants whose rent is ultimately paid by the government.
