Vital Healthcare portfolio value drops about 1.1 percent

Mon, 06 Aug 2012

Aug. 6 (BusinessDesk) - The value of Vital Healthcare Property Trust's portfolio has fallen about $6.2 million or 1.1 percent in the year ended June 30, led by a drop in the value of its Mercy Ascot Hospital in Auckland. Vital's manager said the New Zealand portfolio's value fell $5.3 million and the Australian portfolio's value dropped $900,000. The Mercy hospital and the Allamanda Private Hospital in Southport on Australia's Gold Coast have both decreased in value because they each have medium-term lease expiries, it said. “Whilst these l...

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