Listed ING Medical Properties has sold a Hawkes Bay property for 6% above its June 2009 valuation.The 100% occupied Central Hawkes Bay Health Centre at Waipukurau was part of the trust's collection of healthcare buildings nationwide, which have a 99% occu
Listed ING Medical Properties has sold a Hawkes Bay property for 6% above its June 2009 valuation.
The 100% occupied Central Hawkes Bay Health Centre at Waipukurau was part of the trust’s collection of healthcare buildings nationwide, which have a 99% occupancy rate overall.
The trust earned $4.3 million from the sale, which was 6% above its most recent valuation of $4.05 million. All proceeds will go towards repaying debt.
“The disposal is part of the Manager’s previously articulated portfolio and capital management strategy that takes into account the considered sale of the Trust’s lower value, non-core property assets,” ING Medical Properties Trust general manager David Carr said.
The sale takes the asset value of its portfolio down to $291 million based on the most recent valuations from June last year.
The trust reported an operating profit of $6.76 million for the six months to December, which was a rise of $89000 from the same time the previous year.
At press time its shares were trading at $1.20 each.
