Vital Healthcare Property Trust has acquired an aged-care facility and a hospital in Australia for A$27.6 million (NZ$30m), extending the buying spree it embarked on since raising $160m in a rights offer last July.
The company acquired the Grafton Aged Care facility in northern New South Wales with aged care partner, Hall & Prior, gaining a total of 83 beds in 43 rooms and two adjacent residential properties that can be used for expansion. Grafton was bought on an initial 20-year lease with Hall & Prior in a deal that settled on March 31, it said.
Vital said it has also simplified the ownership of Melbourne's Epworth Eastern Hospital with a six-year lease extension to 25 years. Vital built the hospital in 2005. Epworth is an Australian not-for-profit hospital operator based in the state of Victoria. That transaction also settled in March.
Separately the company said it settled the $33m purchase of Ormiston Hospital in Flat Bush south of Auckland's CBD, one of two acquisitions announced in February along with the Abbotsford Private Hospital, a 30-bed private mental health hospital in Perth for A$20m.
The latest acquisitions add to two medical office buildings in Sydney and Melbourne purchased for A$55m.
