Target Healthcare REIT Limited, the specialist UK care home investor, is pleased to have been named alongside the JPMorgan Global Convertibles Income Fund as joint-winner of the Best New Issue category at the 2014 Investment Week Investment Company of the Year Awards.
Launched in 2013, Target Healthcare REIT is the only LSE-listed REIT investing in care homes. The REIT invests in high-quality, modern, purpose-built care homes in the UK with lease terms of 30+ years to carefully selected operators. All homes offer facilities significantly ahead of minimum UK care standards with larger bedrooms, en-suite wet rooms, residential services and communal areas. The Target Healthcare REIT has raised £118m from wealth managers, private and institutional investors across four issuances. Most recently the REIT acquired three care homes in Yorkshire and Lancashire for approximately £13.3m including acquisition costs.
Investment Week’s Investment Company of the Year Awards aim to recognise and reward excellence in close-ended fund management. The judging panel is made up of some of the UK’s leading researchers and investors in investment trusts and closed-ended companies. The judges identified the most consistent performers and Investment Week reward the top managers across a range of sectors.
Kenneth MacKenzie, Managing Partner of Target Advisers LLP, commented:
“We are particularly pleased to have achieved this accolade in such a strong field of investment companies in the Best New Issue category. We have had a very strong period since launch and already have a quality investment portfolio of 26 modern, purpose built care homes, with a healthy pipeline of further opportunities. We have seen solid demand post-launch and we will look to raise further capital over the course of the next twelve months.”