Growthpoint launches SA’s first healthcare-focused property company
Growthpoint Properties has launched the country’s first healthcare-focused property company as it looks to expand into a specialised real estate sector that offers significant security to landlords. The real estate investment trust (Reit), called Growthpoint Healthcare Property Holdings, will initially be unlisted and will have a R2.4bn portfolio. Fund managers have been calling for more specialised property funds, saying they tend to outperform general diversified property funds. Growthpoint Healthcare would be a subsidiary of Growthpoint and the intention is to grow it to hold R10bn in assets before listing it separately on the JSE in about five years.
Growthpoint CEO Norbert Sasse said the healthcare subsidiary would invest exclusively in healthcare assets in SA occupied by licensed operators of hospitals, clinics, pharmacies and laboratories. Sasse said Growthpoint Healthcare already held five assets in the healthcare property fund, with the weighted average lease length o...
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