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Social Housing REIT to Acquire ReSI's Senior Living Portfolio for £108.3 Million
Social Housing REIT has announced plans to acquire ReSI's later-living portfolio for £108.3 million, a strategic move that will bolster the REIT's gross asset value to £831.4 million.
This acquisition includes 1,907 senior living rental flats and 256 flats with housing managers, reflecting a growing trend in the senior housing market amid increasing demand for age-appropriate living solutions. Despite the recent sentiment in the broader market signaling extreme fear, with a score_adj of 13 and a coverage of 7, this transaction indicates a potential shift in investor confidence towards the social housing sector.
The deal aligns with a modest rise in the rate of change over the last three months, recorded at 0.0217, suggesting a cautious optimism as the REIT expands its portfolio in a challenging economic environment.