Legal & General acquires 13 homes

Financial services group Legal & General has entered the care home sector buying 13 facilities from Prestbury Investments for just over £70m. Currently leased to Methodist Homes (MHA), Legal & General says it has lowered the current rents for 13 of the homes. The leases on these facilities will be subject to annual RPI-linked rent reviews, rather than fixed uplifts, which Legal & General says will create stability and certainty and is preferred by MHA .

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