Australian Unity Investments (AUI) has successfully refinanced its Healthcare Property Trust (HPT) by 10 per cent despite the limited supply of capital available on the market.
Top-tier banks Westpac, National Australia Bank and Commonwealth Bank of Australia subsidiary Bankwest are participating in the refinancing, with the new $220 million loan facility replacing an existing $200 million facility. It has a term of up to three years.
AUI investments and strategy general manager Kirsty Dullahide said the new facility gave the HPT the ability to take advantage of new, attractively-priced growth opportunities.
"In addition to considering any acquisitions, the funding will allow us to continue investing in the properties we currently own to ensure they realise their value for investors," Dullahide said.
The HPT has returned 14.95 per cent wholesale since its inception in 2002.
"The strength of the healthcare sector, which is largely immune to economic cycles, is recognised by lenders and makes the HPT an attractive investment," Dullahide said.
