Agreed deal would mark latest take-private in listed real estate
Deal is Primary Health Properties largest Irish acquisition to date
Davies will take over the role from PHP founder Harry Hyman following the REIT’s AGM in April
Net rental income grew by 6.7% for the first six months of the year
IFRS profit down 60% to £56.3m
Primary Health Properties chief executive will step down in 2024
Value of REIT’s portfolio grew to £2.9bn during H1
PHP’s portfolio comprises 512 assets with a contracted rent roll of £143m
Inflation-linked rents, strong covenants, hedged debt and a healthy pipeline has PHP feeling smug
The deal takes PHP’s portfolio to 522 properties
The new facilities with Aviva and NatWest will offer a margin reduction based on sustainability KPIs
PHP now has 516 properties and a rent roll of more than £138m