Primary care property investor Medicx Fund has revealed that its shares are “performing well”, following the acquisition of 31 properties.
In an interim management statement for the three months ended 30 June 2012, the company said its portfolio was valued at £286.1 million by Jones Lang Lasalle.
The unaudited adjusted net asset value at 30 June 2012 is estimated to be £166.3 million, equivalent to 64.7 pence per share, compared with 65.5 pence per share at 31 March 2012.
The group said its shares had “continued to perform well” with the closing mid-market share price at 29 June 2012 standing at 77.3 pence.
In July, the firm announced the acquisition of a portfolio of 31 completed and fully let primary care medical centres.
The acquisition, which is the fund’s biggest to date, is for an initial cash consideration of £16.1 million and the assumption of existing debt of £63.8 million.
Aside from the July acquisitions, the firm said there have been no significant changes to its financial position since the interim results were announced on 28 May 2012.
Medicx Fund now has a total portfolio of 106 properties.