UK health REIT Assura raises €200m+ in share placement

UK-based healthcare REIT Assura has raised £185 mln (€209 mln) via a placement of shares, to fund the construction and acquisition of healthcare facilities.

The investor has a pipeline of £165 mln (€186 mln), comprising £81 mln of on-site developments for the UK’s National Health Service, most of which are due for completion this year.

There is also £67 mln (€75 mln) of acquisition opportunities, while in the past month Assura completed purchases totalling £41 mln (€46 mln). Meanwhile, capital improvement projects amount to £17 mln (€19 mln).

The FTSE-250 listed company has 576 assets in its portfolio, comprising a value in excess of £2 bn (€2.2 bn).

Welcoming the fundraise, Assura CEO Jonathan Murphy said: ‘The importance of the NHS to society has never been more apparent than it is now in dealing with Covid-19.

‘Assura has been doing all we can to support the health service and our GP partners where possible, such as assisting occupiers to optimise the use of space in their buildings and offering any vacant space to the NHS.

‘We feel we are very well placed to help the NHS. We have extremely close relationships with the GPs, understand their needs, and have an experienced team that can navigate the complex medical and real estate requirements.

‘Our strong financial position allows us to deliver on our ongoing growth trajectory in order to continue to provide the NHS with modern, fit for purpose buildings.’