London-listed healthcare property investor MedicX Fund has completed the acquisition of 14 medical centres in the UK.
London-listed healthcare property investor MedicX Fund has completed the acquisition of 14 medical centres in the UK.
MedicX paid £10 mln (€11.6 mln) in cash and took over existing debt facilities of £34.7 mln to acquire the assets.
The portfolio comprises seven operational, fully let primary care medical centres, together with seven further properties under construction.
The completion of the seven properties under construction will be managed by General Practice Investment Corporation (GPI) which will retain all of the development and construction risk.
MedicX Fund has also negotiated a framework agreement with GPI, giving the fund first right to forward-fund future projects and adding £35 mln to its pipeline.
