MedicX Fund (MXF.L) Q3 IMS: In-line, but higher than expected asset purchases
Last week’s IMS stated good Q3 portfolio growth (17% annually). We raiseour acquisition estimates for FY14 to approaching £80m committed
investments. There is a £100m development pipeline: acquisitions come
from sponsoring development (MedicX has two development partners in
particular) and acquisitions of modern standing stock. NAV end June stood
at £229.1m, 64.8p (vs 64.7p March 2014). Rental growth 1.8%.
MedicX Fund is a closed-ended investment company and a U.K. Real Estate Investment Trust. Co. is the holding company of a number of subsidiaries. Co., together with its subsidiaries, is a primary healthcare infrastructure investor in purpose-built primary healthcare properties in the U.K. and Republic of Ireland. As of Sep 30 2017, Co. had 156 primary care properties across the U.K., including 151 completed properties and five properties under development. Octopus AIF Management Limited acts as Co.'s Alternative Investment Fund.
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