Property

Vital buys an A$92.8m cancer centre, raising $140m

Jenny Ruth
Wed, 13 Oct 2021

The Tennyson Centre houses cancer specialists. (Image: Tennyson Centre)

Jenny Ruth
Wed, 13 Oct 2021

Vital Healthcare Property Trust's manager said the trust has bought a cancer centre in Adelaide for A$92.8 million and will raise $140m to pay for it and to provide for future acquisitions.The purchase of the Tennyson Centre will also provide development potential because an adjoining site is included in the purchase.The capital raising will be through a $115m underwritten placement to institutions at $2.90 per share – Vital units closed at $3.01 yesterday – and an about $25m retail offer, although the manager may opt to accept...

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Vital buys an A$92.8m cancer centre, raising $140m

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