LONDON (ShareCast) - (Sharecast News) - Civitas Social Housing has bought three social housing properties comprising 26 tenancies for £3.65m.


The real estate investment trust said the properties would generate income immediately with an initial net yield in line with its expectations. It did not say where the properties were located.

Civitas, which specialises in social housing in England and Wales, said the properties were adapted for use by tenants with learning disabilities and other care needs with a care provider at each property. The properties have 25-year leases and rents adjust each year in line with consumer price inflation.

The company paid cash for the properties from its C share resources, of which £234m has been invested. It will add debt to the funding of the portfolio in future to enhance the yield.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE