Triple Point Social Housing REIT (LON:SOHO) announced on Monday that it completed the acquisition of seven new supported housing properties.
The newly purchased sites, made up of 68 individual units, will cost around £12.1m.
The properties are located across the UK, including the North West (24 units), the North East (23 units), Yorkshire (10 units), the East (7 units) and the South East (4 units).
Triple Point Social Housing REIT has entered into new FRI leases in respect of each of the properties for a minimum period of 20 years with the ability to extend.
The leases are with specialist charities or housing associations regulated by the Regulator of Social Housing, including Blue Square Residential, Care Housing Association, Chrysalis Supported Housing and Independent Housing.
The trust’s aim is to allow investors to get a solid long-term return while having a positive impact on society. Their mission is geared towards addressing the ongoing housing crisis by investing in the UK social housing sector.