Civitas Social Housing acquires portfolio for £11m

Civitas Social Housing has completed the purchase of a portfolio of regulated social housing for £11m, comprising the freehold interest in 10 supported living properties, with 55 tenancies, in the West Midlands, South East and East of England.

The portfolio was immediately income generating with an initial net yield in line with the company's expectations and was sourced off-market by Civitas Housing Advisors Ltd, the Company's Investment Manager.

The portfolio was funded through the company's cash resources.

"In due course, it is intended that leverage will be applied in accordance with the company's stated policy and it is expected that this will further enhance the yield achieved from this investment," it said in a statement.