Growthpoint Healthcare Property Holdings (GHPH) is SA’s first unlisted healthcare fund which invests exclusively in healthcare property assets in SA, including hospitals, clinics, pharmacies and laboratories. The fund’s assets are characterised by long leases, with many hospitals and clinics being long-standing landmarks in their communities.
Why we’ve invested
Growthpoint Properties currently holds a 62% in GHPH, which has attracted keen market interest with over R960m raised from third parties to date. The fund has substantial debt headroom, with the immediate capacity to acquire assets through acquisition and development.
GHPH at a glance
- GHPH held five assets, four hospitalsand one medical chambers, at the end of FY19 valued at R2.7 billion
- Its portfolio has a weighted average lease length of approximately eight years, highlighting the defensive nature of investing in healthcare real estate
- Construction of the R510m specialist Pretoria Head and Neck Hospital is well on track for completion for the fund in the second half of 2020
- Two of the fund’s hospitals are operated by private health-care provider Busamed, and one each by Mediclinic and Netcare
- GHPH also has a significant pipeline of acquisition and greenfield developments