Listed medical property fund Vital Healthcare has added 12 Australian assets to its portfolio, and is going to lend $5.8 millfunds to Healthe Care Australia, in a conditional deal worth a total of $211.6 million.It is planning to undertake a $150.9 millio
Listed medical property fund Vital Healthcare has added 12 Australian assets to its portfolio, and is going to lend $5.8 millfunds to Healthe Care Australia, in a conditional deal worth a total of $211.6 million.
It is planning to undertake a $150.9 million capital raising in a 1-for-1 pro-rata renounceable rights issue underwritten by Forsyth Barr to fund these exercises, depending on if its investors approve the move.
Voting will take place at a shareholder meeting on November 24.
The new Australian investments consist of private hospitals specialising in psychiatric care and surgical services in New South Wales, Tasmania, Queensland and Victoria.
The properties are 99.9% occupied with a weighted average lease term of 15.4 years.
Vital Healthcare changed its name from ING Medical Properties last month.
NBR is to talk to the general manager of Vital Healthcare’s manager David Carr shortly.
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