Northwest Healthcare Properties Management Limited, the Manager of Vital Healthcare Property Trust (Vital) reported their results for the six months ended 31 December 2022 (the Half Year).
The Half Year was a period of consolidation for Vital, with terms agreed to renew and extend debt facilities, interest rate hedging increased, and assets identified for potential divestment.
This allowed Vital to adjust to changing market conditions, particularly a higher cost of capital.
Other key achievements included a 2.6% increase in distributions per unit from the prior corresponding period, a 17.8% increase in AFFO, a 2.9% increase in total assets, and sustainability remaining a core focus with Vital achieving a 5-Star rating for developments from independent standards organization GRESB.
Vital's Fund Manager, Aaron Hockly, said they remain focused on delivering 2-3% growth in AFFO and distributions per unit per annum over the medium term.
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