Welford Healthcare buys two care homes from Woodleigh Care
Welford Healthcare has acquired two care homes owned and operated by Woodleigh Care in the UK. The care homes consist of 107 high quality predominantly en-suite beds, located within established residential areas of Mansfield.
The deal was followed with a GBP11.1 million (US$14.6 million) loan from the investment trust Impact Healthcare REIT to Welford Healthcare, which will allow it to complete the acquisition of Woodleigh Care immediately. Once the regulatory approvals are received, Impact then has the option to acquire the property assets from Welford Healthcare, which also has the option to sell the property assets to Impact. Impact will receive interest payments equal to 7.7% per annum for the duration of the loan.
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