14 Oct 2009

Subdued conditions expected by ING Medical Property Trust

6:57 am on 14 October 2009

ING Medical Property Trust expects business to remain subdued for the rest of the year, but hopes for improvements next year.

The healthcare properties investor, which owns hospitals, health centres and research facilities, has been selling assets this year to reduce debt and bolster its balance sheet.

At its annual meeting, general manager David Carr said there's been some positive activity in investment markets over recent months, on the back of improved investor confidence, but he's remaining cautiously optimistic.

At best, Mr Carr says there will be a hesitant recovery in 2010.