Primary Health Properties has raised £19m through a share placing to help fund a pipeline of acquisitions.
The company said the shareholder money would help with the acquisition of six healthcare properties totalling £25m it is in advanced talks to buy. Some of the shareholder proceeds would also be used for £42m of other property acquisitions in the pipeline.
Since the start of the year, PHP has spent £7.2m on investments, and in April completed the refinancing of its debt facilities.
PHP said: “The directors believe the pipeline of property acquisition opportunities remains strong, and the positive gap between yields and financing costs, together with continued rental growth, will enable PHP to deliver earnings enhancing and cash generating property investments.”
joanna.bourke@estatesgazette.com
