This article is from the Australian Property Journal archive
CANADA’s NorthWest Healthcare Properties Real Estate Investment Trust has acquired Generation Healthcare Management, the investmest manager of ASX-listed Generation Healthcare REIT (GHC).
In addition, NorthWest REIT has also acquired approximately 27.1 million GHC securities, taking its interests to 19.9% interest.
NorthWest Chairman and CEO Paul Dalla Lana said GHC’s strategy will not be altered as a result of the transaction and will continue to be a healthcare real estate specialist fund.
In addition, APN Property Group will remain as the responsible entity of GHC and any future change of responsible entity would require the approval of GHC unitholders.
NorthWest is a global player in healthcare real estate. It has a 24% stake in New Zealand Stock Exchange-listed Vital Healthcare Property Trust, as well investments in Canada, Germany and Brazil.
“We are delighted to have acquired the management of, and made a significant investment in, Generation Healthcare REIT. As a dedicated global healthcare property business, NorthWest brings significant healthcare investment skills and we look forward to utilising our broader platform to enhance and build on the excellent work undertaken by the GHM team to date to create value for GHC’s investors,” Lana said.
Australian Property Journal