Growthpoint develops specialist hospital
Growthpoint Properties SA is selling Cintocare Private Surgical Hospital to its healthcare fund, Growthpoint Healthcare for R515.55-m, bringing Growthpoint Healthcare’s asset base to R3.2-bn. The fund will continue to pay an asset management fee and dividend to its parent company.
The 11 000m² specialised surgical hospital in the Menlyn Maine, Pretoria is the first fivestar-rated green hospital in Africa, and the fifth in the world. Construction of the R470-m hospital began in July 2018 and was completed on time at the end of 2020. The hospital, with 100 beds, specialises in head and neck, spinal and vascular surgery.
Growthpoint Properties, SA’s largest landlord with exposure to R157-bn of assets in five countries.