“By bringing management in-house under a strengthened governance framework, Vital will be well-positioned to unlock future growth, enhance transparency and accountability, and fully align management and investor interests.
“This transaction creates a scalable platform as Vital continues to grow its leadership in healthcare real estate,” he said.
The trust cited two Australian property developments: Coomera stage 1A on the Gold Coast and Macarthur stage 2 in Sydney.
The placement will be conducted during the course of today.
New units will be issued at a fixed price of $1.95.
That is a 9.5% discount to the dividend-adjusted closing price of $2.156 on Friday.
Northwest, which has held the lucrative management contract for several years, won’t participate.
It has also agreed to an escrow arrangement through to the release of Vital’s first half result in February and to not sell down below a 10% stake until after the release of Vital’s FY26 result next August.