Vital Healthcare Property Trust sells facility for $12.6 million
Funds are to be used to repay debt.
Vital Healthcare Property Trust has unconditionally sold its hospital laundry and sterilisation facility in Auckland’s Point Chevalier for $12.55 million, prompting its share price to jump 0.9 per cent to $1.17.
The funds will be used to repay debt.
Settlement is set for next month.
General manager of the trust’s management company Vital Healthcare Management David Carr said the sale was part of a portfolio and capital management strategy, under which the sale of the trust's lower value or non-core property assets was being considered.
“The sale is part of the previously stated, ongoing portfolio and capital management strategy that considers the sale of the trust's lower value or non-core property assets.”
Late last year Vital paid $A164.5 million for 12 Australian hospitals, bringing its total assets to $534.4 million at the end of 2010.
NBR staff
Tue, 07 Jun 2011
Tue, 07 Jun 2011
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Vital Healthcare Property Trust sells facility for $12.6 million
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