Generation Healthcare REIT
(ASX:GHC) has made an initial investment of $28.6 million into the Epping Medical Centre in Melbourne.
The Fund currently owns 18 healthcare real estate properties, and sees Epping as a growth area.
The Epping Medical Center is around 10,000 square metres, and the Fund says funding for this transaction will be from new and current debt facilities.
Generation Healthcare also says it entered a Put / Call Agreement that would see it acquire a 50% stake in the Medical Centre for $17.5 million – with a 3 year option to acquire the adjacent 10,000 square metre site.
Generation Healthcare REIT posted a net profit of $52.5 million at 30 June 2016.
