HopgoodGanim is pleased to have advised Catalyst Health REIT (Catalyst) on its purchase of five residential aged care assets from the Vital Healthcare Property Trust.
Located in Grafton, Fairfield and Burwood in New South Wales and Rockingham and Hamersley in Western Australia and underpinned by leases to health and aged care group Hall & Prior, the acquisition represents a significant addition to Catalyst’s growing portfolio.
Led by Retirement Living and Aged Care Partner, Ivan Orola and supported by Senior Associates Elliott Baldwin and Chris Cullen and the broader commercial property and finance teams, HopgoodGanim is pleased to have advised on all aspects of the transaction including contract negotiations, due diligence, regulatory matters, finance documentation and multi-jurisdictional settlement arrangements.
“HopgoodGanim’s holistic offering across multiple jurisdictions and ability to tackle unique contractual arrangements and issues in a streamlined manner allowed this transaction to settle ahead of schedule” said Catalyst Director, Simon Cunningham.
“Despite national headlines, we are still seeing a fair number of transactions and a flight to quality assets. We enjoy working with operators, landowners, REITs and other proponents and are grateful for being entrusted with protecting their interests whilst getting the particular deal done” said HopgoodGanim Retirement Living and Aged Care Partner, Ivan Orola.
HopgoodGanim is proud to have acted for Catalyst since 2017 and looks forward to continuing its ongoing relationship with Catalyst with respect to its growing portfolio of health and aged care properties.