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CK ASSET's Associate Plans to Spend EUR300M on Buying German Nursing Homes; Low Double-Digit IRR Expected
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CK ASSET (01113.HK)'s associated corporation, Civitas Investment Management (CIM), further expanded into Europe, and advanced the acquisition of a portfolio of 26 elderly and assisted living care homes in Germany for EUR300 million, according to CK ASSET. Chiu Yue Seng, Executive Committee Member and Head of Special Projects at CK ASSET, expected that the above transaction will be completed in the next 1-2 months, and estimated that the internal rate of return (IRR) of the project will reach a low double-digit figure. In addition, the Group intended to further look more more similar social housing investments in Europe with a view to increasing recurring income to support future dividend. AAStocks Financial News |
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