Northwest Healthcare Properties Management Limited (Northwest), as manager of Vital Healthcare Property Trust (Vital), has released its results for the 12 months ended 30 June 2023 (FY23).
Vital's portfolio of high-quality healthcare assets across Australia and New Zealand is valued at NZ$3.4 billion with ~99% occupancy and a weighted average lease term (WALE) of 17 years.
Highlights include 8.1% growth in Adjusted Funds From Operations (AFFO), a non-core asset divestment programme with ~NZ$155 million already transacted, and the commencement of construction of several developments.
Fund Manager, Aaron Hockly, says that Vital is part way through a process of further upgrading and enhancing its property portfolio, in-line with announcements made over FY23.
Vital has A$180m of debt headroom and has provided FY24 distribution guidance of at least 9.75 cpu.
As part of sustainability efforts, Vital will post a summary report to those Unit Holders who have elected to receive a hard copy, rather than printing and posting the FY23 Annual Report and FY24 Half Year Report.
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