Media Release | 26 June 2014
Hall & Wilcox advises on Generation Healthcare transactions
Leading independent business law firm Hall & Wilcox recently advised Generation Healthcare REIT, the only ASX-listed pure healthcare property fund (ASX: GHC), on a raft of corporate initiatives including capital raising and several property transactions.
APN Funds Management, the responsible entity for Generation Healthcare, announced a successful capital raising of $50.3 million via the combination of a fully underwritten Accelerated Entitlement Offer and Institutional Placement.
Hall & Wilcox has a long association with GHC’s management according to Hall & Wilcox Partner John Hutchinson, who worked on the capital raisings along with senior associate Jiayue Li and lawyer Zoe Solomon. “We are pleased to have helped finalise another successful capital raising for the fund.
“Generation Healthcare is a unique investment vehicle in an attractive sector and we look forward for assisting the fund in further adding value to for investors.”
Hall & Wilcox also advised on $83.5 million of property transactions, including:
Acquisition of a Brisbane medical centre for $46 million
A $12.5 million expansion and refurbishment (including lease extension) of Epworth Freemasons Clarendon Street
Development of a new $25 million Integrated Cancer Centre for Epworth Foundation at Clarendon Street
Partners Natalie Bannister and John O’Kane acted on the property transactions. Ms Bannister said the developments would make a significant contribution to the Generation Healthcare portfolio. “The transactions were completed with minimum fuss on a tight timeframe. We are proud to have assisted Generation Healthcare with these important property transactions.”
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