Impact Healthcare reports 27% jump in portfolio value
Impact Healthcare has reported a 27.4% rise in the value of its investment portfolio, boosted by rent increases and a valuation uplift during the six months ending 30 June.
Portfolio valuation grew to £346m in the six months ending 30 June, up from £271.6m in June last year. Its contracted rent roll grew 36.6% to £29.5m.
Its portfolio value was 8.5% up on its £318.8m December book value, on the back of £22.6m acquisitions, £1m capital improvements, and a £2.8m valuation uplift. The REIT said the latter was driven by rent increases received during the period.
Impact Healthcare has reported a 27.4% rise in the value of its investment portfolio, boosted by rent increases and a valuation uplift during the six months ending 30 June.
Portfolio valuation grew to £346m in the six months ending 30 June, up from £271.6m in June last year. Its contracted rent roll grew 36.6% to £29.5m.
Its portfolio value was 8.5% up on its £318.8m December book value, on the back of £22.6m acquisitions, £1m capital improvements, and a £2.8m valuation uplift. The REIT said the latter was driven by rent increases received during the period.
Unaudited NAV per share grew to 107.2p in June, from 104.7p in the previous year.
At the same time, the REIT’s LTV ratio soared to 18.1%, from just 7.7% at the same point last year.
The landlord acquired eight properties with 545 beds in the period to 30 June. It also committed to forward fund a further property with 94 beds, and exchanged on a further nine properties with 649 beds. On completion this will bring its total property count to 104, with 5,601 beds.
Rupert Barclay, chairman of Impact Healthcare REIT, said that “despite the short-term uncertainty produced by the pandemic, the fundamental drivers of our industry and business remain strong”.
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