Primary Health Properties Forms GIC Joint Venture, Expects £500 Million
The UK healthcare REIT expects to receive £500 million ($666.55 million) from the deal, which it said would help cut debt.
Primary Health Properties (LSE:PHP) said Monday it expects to receive £500 million ($666.55 million) through a joint venture with Singapore sovereign wealth fund GIC. The deal would help the British healthcare REIT reduce debt. The conversion rate provided was $1 = 0.7501 pounds.