VHP
12/09/2012 09:32
ASSET
REL: 0932 HRS Vital Healthcare Property Trust
ASSET: VHP: Vital announces unconditional sale of Pitman House
12 September 2012
Vital Healthcare Management Limited (the 'Manager'), the manager of Vital
Healthcare Property Trust (the 'Trust') today announced that it had
unconditionally sold Pitman House in Point Chevalier, Auckland for $5.25
million.
Chief Executive Officer of the Manager, David Carr said "the sale of Pitman
House is a continuation of the targeted divestment programme of the Trust's
non-core, or lower value assets. The repayment of debt and recycling of
capital into opportunities that enhance the overall position of the Trust
forms part of our on-going property and capital management strategy."
The sale is to a private investor, with settlement occurring on 3 October
2012.
- ENDS -
ENQUIRIES
David Carr, Chief Executive Officer
Vital Healthcare Management Ltd, Telephone 09 973 7301, Email
[email protected]
Stuart Harrison, Chief Financial Officer
Vital Healthcare Management Ltd, Telephone 09 973 7302, Email
[email protected]
About Vital Healthcare Property Trust
With a portfolio value of over NZ$567m, Vital Healthcare Property Trust
(NZSX: VHP) is New Zealand's largest listed investor in medical and
healthcare property infrastructure in Australasia. With an expert
understanding of the needs of healthcare tenants on both sides of the Tasman,
we actively select, develop and manage quality properties to meet the growing
demand for medical and healthcare services. Our 124 tenants, in 25
properties, provide essential healthcare services to thousands of patients
while also undertaking research and providing support services that will make
a difference to many more lives in the future.
The Manager of Vital Healthcare Property Trust, Vital Healthcare Management
Limited is owned by NorthWest Value Partners Inc., a private real estate
investment firm based in Canada with healthcare real estate interests in
Canada, Australia, New Zealand, Brazil and Germany.
End CA:00227190 For:VHP Type:ASSET Time:2012-09-12 09:32:49
