trending Market Intelligence /marketintelligence/en/news-insights/trending/xe3hb0z16v2hhxavkbom4a2 content esgSubNav
In This List

Residential Secure buying retirement homes portfolio in UK for £40M


S&P Capital IQ Pro | Powering Your Edge


S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights


Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Residential Secure buying retirement homes portfolio in UK for £40M

London-listed Residential Secure Income PLC completed the acquisition of 421 of 478 retirement home properties that are set to be purchased under a £40.2 million deal with U.K.-based housing association Places for People.

The multifamily-focused residential real estate investment trust said the balance of 57 assets are slated to change hands in 2018. Overall, the properties are spread across 284 purpose-built retirement schemes, with over 93% based in Southern England, including in the Greater London area.

The weighted average unexpired lease term of the homes, held on a long leasehold basis, is 92 years. Girlings, which is part of the Places for People Group, will continue to manage the portfolio.

Residential Secure has meanwhile signed heads of terms for long-dated investment-grade equivalent debt secured on the retirement homes portfolio.