Listed property trust says its 'defensive portfolio' weathered the storm.
Vital Healthcare Property Trust, the fourth largest listed property vehicle and the only specialist healthcare landlord on the NZX, has had a buoyant half year to December 31st, 2020 as the global pandemic underlined the primacy of healthcare.
The owner of a trans-Tasman $2.25 billion healthcare property portfolio, of which 28% sits in New Zealand and 72% in Australia, said the company’s results despite the Covid pandemic highlighted Vital’s defensive characteristics.
The trust, externally managed by a subsidiary of Toronto-listed, global healthcare real estate owner and manager, NorthWest Healthcare Properties, increased its post-tax property income by 7.5% (excluding foreign exchange