Sydney-based Centuria has acquired three private health care assets on Australia’s eastern seaboard for almost $58 million as part of its unlisted Centuria Healthcare Property Fund portfolio.
The properties are the three-level, $23-million Coffs Harbour Specialist Centre; Cairns Day Surgery, which it bought for $21.6 million; and Murrumba Village Medical Centre at Murrumba Downs, Queensland for $12.7 million, which is due to be completed in early 2022.
Centuria Healthcare managing director Andrew Hemming said the fund was growing strongly.
“Since we launched CHPF in late August 2020, investor appetite has been strong,” Hemming said.
“The fund is continuing to expand its portfolio, which is aligned with our strategy to secure modern, purpose-built assets that lend themselves to efficient and effective models of care.”
With the latest acquisitions, the pure-play open-ended healthcare fund, which is now worth almost $220 million, has 10 assets.
“The new transactions ... enable us to deliver monthly income returns to our investors,” Hemming said.
“Our capital raise before Christmas saw the fund substantially oversubscribed.
“Our focus remains on meeting investment demand for high-quality healthcare assets.”
Hemming said during 2020 healthcare real estate had been in focus with Covid-19 highlighting the sector’s “unmet demand”.
“People are living longer, and not necessarily in better health which continues to ramp up demand and put pressure on the sector,” Hemming said.
This latest trio of purchases follows further acquisitions in November and August last year. Centuria Healthcare’s portfolio across Australia is worth $1 billion.