12 September 2012

Vital Announces Unconditional Sale of Pitman House

Source: Vital announces unconditional sale of Pitman House
VHP announces strike Price for Distribution Reinvestment Plan

Vital Healthcare Management Limited (the ‘Manager’), the manager of Vital Healthcare Property Trust (the ‘Trust’) today announced that it had unconditionally sold Pitman House in Point Chevalier, Auckland for $5.25 million.

Chief Executive Officer of the Manager, David Carr said “the sale of Pitman House is a continuation of the targeted divestment programme of the Trust’s non-core, or lower value assets. The repayment of debt and recycling of capital into opportunities that enhance the overall position of the Trust forms part of our on-going property and capital management strategy.”

The sale is to a private investor, with settlement occurring on 3 October 2012.

ENDS