Altrincham-based healthcare real estate investment trust Assura plc said it sold 12 assets for cash proceeds of £25 million, enabling it to make a partial repayment of the company’s revolving credit facility.

Assura said it was in discussions on further tranches of asset disposals with an aggregate value of approximately £110 million, being a mixture of both portfolio disposals and assets for transfer into our previously announced joint venture partnership.

In addition, a further pipeline of 27 assets with an aggregate value of approximately £90 million that meet the Company’s disposal criteria has been identified and preliminary work on the possible disposal of these assets has commenced.

It said it remained on track to reduce net debt to EBITDA below 9 times and LTV below 45% over the next 18-24 months.  

Jonathan Murphy, CEO, said: “Our £500 million private hospital portfolio acquisition in August 2024 was an important strategic step for Assura becoming a diversified healthcare REIT capitalising on the significant opportunity in the structurally-supported private hospital market. The progress on our disposal programme is an important next step in delivering our commitment to reduce leverage following the acquisition.”