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KCR Residential REIT Acquires Leasehold Apartment
Thursday 11 January 2018

11 January 2018 - UK-based property investor KCR Residential REIT plc's (LSE: KCR) K and C (Osprey) Ltd subsidiary has acquired a further apartment within one of its freehold retirement residential developments, the company said.

The 67-year lease of the apartment was purchased for a consideration of GBP 310,000 (USD 418,952), excluding costs.
 
The acquisition was funded via a drawdown from the "2018 Loan" of GBP 1.875m announced on 4 January 2018.
 
In line with the previous leasehold acquisitions, the apartment will be refurbished and sold subject to a new 125-year lease such that Osprey retains the freehold interest.
 
KCR's objective is to build a substantial residential property portfolio that generates secure income flow for shareholders through the acquisition of SPVs (Special Purpose Vehicles) with inherent historical capital gains.

The directors intend that the group will acquire, develop and manage residential property assets in residential areas in the UK.
Details
Date Published: 11/01/2018
Target: 67-year lease of an apartment
Country: UK
Deal Size: 418,952 (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Vendor:
Buyer: KCR Residential REIT
Comment:


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