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Social Housing REIT to Acquire ReSi's Senior Living Portfolio for £108.3 Million
Social Housing REIT has announced its intention to acquire ReSi's later living portfolio for £108.3 million, a move that will enhance its gross asset value to £831.4 million.
This acquisition includes 1,907 senior living rental flats and 256 flats managed by housing managers, underscoring the REIT's strategic focus on expanding its footprint in the senior housing market. Despite the current market sentiment reflecting extreme fear, as indicated by an adjusted sentiment score of 14, the acquisition could be viewed as a counter-cyclical investment amid a broader backdrop of cautious investor behavior, evidenced by a coverage score of 9.
The recent trend in the real estate sector shows a slight recovery, with a rate of change over the last three months at approximately 4.57%, suggesting that while investor sentiment remains subdued, there are pockets of opportunity for growth in the senior living segment.