This article is from the Australian Property Journal archive
ING Real Estate Healthcare Fund has entered into due diligence to takeover Essential Healthcare Trust, an unlisted property fund.
EHT has 12 healthcare properties located throughout Australia, comprising general and surgical hospitals, psychiatric hospitals and medical office buildings, which has a book value of approximately $160 million as at December 31 2009.
IHF chief executive Miles Wentworth said a merger with EHT would enhance IHF’s position in the Australian healthcare property sector providing increased scale and reach.
The due diligence and exclusivity period will extend until July 07 2010.
The proposed merger is subject to the satisfactory completion of due diligence, lender support, independent experts reports and IHF and EHT board and unitholder approvals.
Australian Property Journal
