News and Announcements
APN Property and Generation Healthcare Management Joint Venture Update
- Published December 24, 2015 4:34PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
24th December 2015, ASX Announcement
APN is pleased to Generation Healthcare REIT’s (GHC’s or the Fund’s) financial close on the $120 million Stage 2 project at Casey, the commencement of the $45 million expansion of Frankston Private Hospital and number of other positive recent fund initiatives. These transactions continue to build upon GHC’s momentum and are expected to further enhance GHC investors’ returns over time.
As previously disclosed GHC is managed via Generation Healthcare Management Pty Ltd (GHM), a joint venture between APN and GHC Management. Under the GHC management arrangements there is potential for GHM to earn performance fees should the Fund’s total return outperform the ASX300 AREIT Accumulation index (refer GHC announcement of 23 October 2014 for further details). It is APN’s practice to exclude such income from its Operating Earnings guidance until such time as these market dependent fees are determined.
To read the full announcement, please click here.