The Corporate Real Estate team of international law firm Pinsent Masons has advised MedicX Fund, the LSE Main Market-quoted specialist UK primary healthcare property investor, in relation to its Placing, Open Offer and Offer for Subscription of 34,291,028 new shares at a price of 72p per share.
MedicX Fund's investment objective is to achieve rising rental and capital growth from the ownership of its portfolio of modern, purpose built, primary healthcare properties. These properties are principally leased to GPs, primary care trusts and local health authorities.
The proceeds of the fundraising will be used to acquire further properties for the portfolio, including by way of forward funding arrangements.
Collins Stewart Europe was the sponsor and lead bookrunner to the issue.
The Pinsent Masons team was led by Corporate partner Robert Moir, assisted by Jayson Marks and Caroline Allen.
Commenting on the deal, Robert Moir said: "We are delighted to have advised longstanding client MedicX Fund on its latest fundraising. The provision of top-grade medical facilities for the NHS is a key priority for the Government and will continue to be so after the General Election. We look forward to working with MedicX Fund on future projects as its investment portfolio continues to grow."