Growthpoint Healthcare REIT, South Africa’s first unlisted REIT dedicated to healthcare real estate, has acquired Johannesburg Eye Hospital in Northcliff, South Africa, for R106.4m ($5.72m).

This acquisition marks the ninth asset and the second specialist healthcare facility within its portfolio, which now holds R3.8bn ($200m) in assets under management, according to a press release posted on

With a 20-year history, Johannesburg Eye Hospital specialises in eye surgery and laser eye procedures and includes the Medwedge Stepdown Facility.

 This addition aligns with Growthpoint Healthcare Property’s investment strategy, which focuses on licensed healthcare facilities, ranging from hospitals to laboratories and pharmaceutical manufacturing and warehousing.

After facing challenges due to the Covid-19 pandemic, Growthpoint Healthcare REIT is actively seeking investment opportunities, equipped with cash reserves ready for deployment.

Emphasising the potential in specialist healthcare properties, Growthpoint Healthcare REIT fund manager Dr Linda Sigaba said, “While there is an oversupply of private acute and multidisciplinary medical facilities in several areas, there is still a real need for specialist healthcare facilities.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Dr Sigaba further elaborates on the diverse needs within the healthcare sector, mentioning the demand for facilities dedicated to mental wellness, oncology, urology, and cardiology.

“South Africa certainly needs more healthcare properties, and whether operated by the public or private sector, Growthpoint Healthcare REIT is positioned to support the healthcare sector in meeting the needs of South Africans,” she notes.

Growthpoint Healthcare REIT’s portfolio expansion now includes a pharmaceutical warehousing and distribution facility, a medical chambers property, and seven hospitals.

With a commitment to distribute at least 90% of its distributable earnings to investors, Growthpoint Healthcare REIT aims for gross ungeared total returns of between 13% and 16% per annum. The company also maintains a loan-to-value ratio of 17%.