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HCP acquires Maria Mallaband portfolio in £75.8m deal

US REIT HCP has acquired 20 Maria Mallaband Care Group properties in a sale and leaseback arrangement worth $127 million (£75.8 million).

Founded in 1996, MMCG provides residential and nursing care at over 60 units across the UK.

MMCG has triple-net leases on the properties with initial terms of 15 years plus two 10-year extension options and provide for initial annual rent of $9.7 million (£5.8 million).

The leases are linked to RPI and are subject to a floor of 2% and a ceiling of 4.5%.

The deal was signed on 6 June.


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Posted on: 05/08/2014

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