Invested Capital Exceeds £200m

RNS Number : 7571J

Civitas Social Housing PLC

30 June 2017

 

30 June 2017

CIVITAS SOCIAL HOUSING PLC

("Civitas" or the "Company")

Invested Capital Exceeds £200m

Following the announcement today of the acquisition of a portfolio of 19 supported living properties for a consideration of £15.4 million the total capital invested by Civitas since IPO now exceeds £200 million.

With a diversified portfolio of regulated social homes Civitas is now represented in more than 60 local authority areas in England and Wales, reflecting over 1,100 underlying tenancies that are managed by seven housing associations and supported by more than 40 care providers.

All investments have been sourced off-market by Civitas Housing Advisers Limited ("CHA") the Company's Investment Manager.

The Company is pleased to note that the pipeline of potential future investments, being assembled by CHA, continues to develop in a very satisfactory manner and further announcements will be made in due course. As previously noted each investment is subject to detailed due diligence with a 100 per cent. physical inspection of every underlying property.

Michael Wrobel, Chairman of Civitas, commented:

"Whilst we continue to build the pipeline of quality investments that meet our investment criteria it is pleasing to note that we have now passed the threshold for completed investments of £200 million. With a diversified and broadly based portfolio we are extending our reach to many areas of the country and providing high quality social homes that support our underlying tenants."

For further information, please contact:

Civitas Housing Advisors Limited

Paul Bridge                           Tel: [phone]

Andrew Dawber                   Tel: [phone]

Cenkos Securities PLC

Sapna Shah                           Tel: [phone]

Tom Scrivens                        Tel: [phone]

Pagefield

Philip Dennis                       Tel: [phone]

David Leslie                          Tel: [phone]

Notes:

Civitas Social Housing PLC is the first Real Estate Investment Trust offering pure play exposure to social housing in England and Wales.  The Company is managed by Civitas Housing Advisors Limited.  The Company is listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in November 2016.

 

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