Canada CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Vital Infrastructure To Acquire Burlington Medical Facility For $26.2M
Vital Infrastructure Property Trust has agreed to acquire a 51,000-square-foot, multi-tenant medical outpatient facility in Burlington, Ont., for $26.2 million.
The real estate investment trust disclosed the pending acquisition Wednesday as part of its second-quarter financial results. The transaction is expected to close during the third quarter.
Vital Infrastructure did not identify the property, its vendor or the tenants occupying the building in its announcement. It also did not provide occupancy figures, lease terms or details about how the purchase will be financed.
The Burlington deal forms part of a broader pipeline of North American investments being advanced by the trust. Vital Infrastructure said it is pursuing more than $150 million in acquisitions as it directs additional capital toward health-care real estate in Canada and the United States.
The trust focuses on infrastructure used throughout the patient-care journey, including hospitals, medical outpatient centres, ambulatory surgery centres, diagnostic and imaging facilities, and specialized rehabilitation centres.
Vital Infrastructure has been reshaping its portfolio while concentrating growth in the Americas. Earlier this year, it completed the sale of a 33-property portfolio in Germany and the Netherlands. The trust said proceeds from its European dispositions would support debt reduction and new investments.
The Burlington acquisition would add another Canadian outpatient property to the portfolio. Medical outpatient facilities are positioned to benefit from growing health-care demand and the movement of more procedures and services away from traditional hospital settings.
- ◦Sale/Acquisition