Investor may challenge Calan sale

A Calan Healthcare Properties Trust unit-holder has complained about the trust's manager selling out to ING Property Trust.

Auckland investor Sydney Gardiner said he put grievances to Miles Wentworth, chief executive of the trust's manager.


"I wanted to express my displeasure at the lack of common decency in the management for not offering the rights to manage the trust back to the unit-holders via a public meeting," said Gardiner, who wants to gauge the level of interest in challenging a sale widely criticised by institutional investors.

One institution ditched all Calan units when it heard of the deal. Another now plans to buy property directly.