Public Services Properties : PSPI

Public Services Properties is an investor in care homes in Europe. Public Services Properties commenced a strategic review of its operations in the first quarter of 2011 as a result of continued difficulties to raise financing on acceptable terms following the global debt crisis since 2008 and increasingly difficult operating conditions, particularly in the UK healthcare market where the Company was exposed to a single tenant group. As a result, the Company sold a number of its UK assets in a non cash transaction for shares in the operating group in July 2012. The Company also sold two investment properties in Germany to release equity and sold its investments in Switzerland and the US in December 2012