Tom Patrick
Head of Healthcare Property, Partner
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Fund Overview
The Barwon Institutional Healthcare Property Fund was launched in November 2016 and aims to provide institutional investors with a portfolio of equity investments in Australian healthcare properties.
The Fund comprises a high quality, diversified portfolio of healthcare properties including hospitals, private specialist facilities, day surgeries & medical centres and ancillary healthcare assets.
The Fund aims to provide investors with an attractive income return, quarterly distributions, and the potential for capital growth.
Investment Strategy
The Fund holds an Australian portfolio of 25+ assets and is comprised of healthcare properties including:
- Hospitals
- Private specialists facilities
- Day surgeries & medical centres
- Public health facilities
- Diagnostic and laboratory facilities
- Ancillary healthcare assets
All assets are located in Australia in metropolitan and major regional locations
Key Features of the Fund
Australia’s growing and aging population driving strong demand for healthcare services
Attractive target yields of 4%-6% p.a. paid quarterly
Long WALEs with inflation-hedged income streams
Strong total returns for the property asset class with lower volatility
High credit quality of tenants
First Australian healthcare fund to be awarded Green Star rating
Unit Price and Performance
As at 30 September 2024
| Fund Name | Unit Price (CUM) | Income Return ITD p.a. | Capital Return ITD p.a. | Total Return ITD p.a. | Fund Inception |
|---|---|---|---|---|---|
| Barwon Institutional Healthcare Property Fund | $1.2247 | 4.48% | 1.42% | 5.90% | 2-Dec-16 |
Disclaimer
Investment Team
Selection of Fund Properties
Maroochydore, Queensland
- Description: A specialist medical centre located in the healthcare hub of Maroochydore, QLD
- NLA: ~10,000 sq.m.
- Anchor Tenant: University of the Sunshine Coast
- Purchase Date: to be completed ~Q2 2025
- Targeting a 4-star Green Star rating
Mackay, Queensland
- Description: A newly built, specialist medical centre located in the healthcare hub of Mackay, QLD
- NLA: 3,676 sq.m.
- Anchor Tenant: ICON
- Purchase Date: July 2018
Kingswood, NSW
- Description: A multi-disciplinary specialist health facility located adjacent to the Nepean Public Hospital, NSW
- NLA: 6,074 sq.m.
- Anchor Tenant: Cura Day Hospitals, Genesis Care and Q-Scan
- Purchase Date: July 2018
Deakin, Australian Capital Territory
- Description: A private hospital campus located in Deakin, ACT, comprised of a private hospital and medical services building
- NLA: 22,153 sq.m.
- Anchor Tenant: Calvary
- Purchase Date: May 2018
Gosford, NSW
- Description: A newly renovated private hospital on the Central Coast of NSW
- NLA: 20,318 sqm
- Anchor Tenant: Healthe Care
- Purchase Date: July 2019
Wollongong, New South Wales
- Description: A newly renovated and expanded day surgery located in Wollongong’s (NSW) health precinct
- NLA: 3,196 sq.m.
- Anchor Tenant: Healthe Care
- Purchase Date: May 2017
The Barwon Institutional Healthcare Property Fund is the first Australian healthcare fund to be awarded a 3 Star Green Star rating
Environmental
Barwon seeks to be Australia’s leading manager in healthcare real estate with respect to its ESG program. The Barwon Institutional Healthcare Property Fund is conscious of its carbon footprint, and is actively taking steps to reduce it, including but not limited to:
-
- Being Australia’s only Green Star rated Healthcare Real Estate Portfolio
- Being a GRESB rated portfolio
- Targeting 4+ Green Star and as built ratings at Eastwood Private Hospital and Maroochydore Private Hospital.
- Adopting technologies across its operation to reduce emissions and drive efficiency
Social
The Barwon Institutional Healthcare Property Fund is uniquely positioned to enact meaningful social benefit from its investment activities.
The BIHPF has made significant commitments to a range of social initiatives, including building the only dedicated young adult mental health hospital in Canberra. With its partners, Barwon has invested extensively in mental health and cancer care facilities across Australia. We seek to identify investment opportunities that not only provide attractive returns for our investors but also provide tangible benefits for the local communities in which we invest.
Governance
Barwon seeks to engage with high quality stakeholders who have reputations in business and in the wider community founded on high ethical and moral standards. Barwon’s governance framework reflects our duty to act in our clients’ best interests at all times and in compliance with all relevant legal and regulatory requirements. Barwon maintains an ESG Committee which provides guidance to the Barwon investment verticals.
News & Insights
Barwon Investment Partners is pleased to release its latest white paper: Investing in the Specialist Disability Accommodation Sector. The paper offers an in-depth analysis of the Specialist Disability Accommodation market, covering key aspects such as investment characteristics, supply and demand trends, risk and return profiles and future growth prospects. Through this exploration, it aims to equip […]
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“We aim to be considered the ‘safe pair of hands’ when investors look to invest in Specialist Disability Accommodation,” says Barwon’s Joss Engebretsen. Building a fund in an emerging asset class fundamentally relies on getting out from under the desk, understanding how the sector works from the bottom up and building the right relationships according […]
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The Inside Adviser – Staff Writer As Australian healthcare expenditure continues to rise and investors move deeper into the sector, healthcare property is well placed to continue its outperformance of other commercial property sub-sectors. Few investors would be unaware of the woes of the commercial property sector, with office and retail real estate valuations continuing […]
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Tom Patrick, Head of Healthcare Property at Barwon Investment Partners, recently discussed the drivers behind an increasing demand in the healthcare property sector and highlighted a potential for growth due to demographic and technological shift on Ausbiz. Click the link below to watch the full interview Media Enquiries Mekala Shanker Marketing & Communications Manager […]
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We are pleased to release our latest investment White Paper: The Outlook for Healthcare Property. Tom Patrick, Head of Healthcare Property at Barwon Investment Partners, comments, “We view the sector’s strong fundamentals, combined with macro-economic tailwinds, leading to sustained and increased demand for healthcare property over the medium term. “As we enter the next property cycle, […]
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The Barwon Disability Accommodation Fund (Fund) is proud to announce the successful settlement of two properties in Western Australia and Queensland. These settlements are in line with the Fund’s commitment to providing high-quality Specialist Disability Accommodation (SDA) across Australia. With a total investment of approximately $10m, these acquisitions bring the Fund’s portfolio to $82.43m including […]
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Barwon Investment Partners (Barwon) is proud to announce its collaboration with Avive Health to unveil a ground-breaking 63-bed private hospital facility in Brisbane. This facility aims to establish a new benchmark in private mental healthcare, reflecting Barwon’s commitment to transforming healthcare infrastructure. Avive Clinic Brisbane, the result of this collaborative effort, is a visionary project […]
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Barwon Investment Partners (Barwon) is proud to have been a part of the momentous occasion of the Eastwood Private Hospital official sod-turning event, marking the commencement of construction for an innovative healthcare facility. This project, valued at $90 million, is the latest development within the Barwon Institutional Healthcare Property Fund (Fund) stable. The Eastwood Private […]
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Tom Patrick, Head of Healthcare Property at Barwon Investment Partners, and Srimathi Iyenger, Portfolio Manager, sat down together to discuss the Barwon Institutional Healthcare Property Fund’s activity during the June to September 2023 quarter.
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In this video, Tom Patrick, Partner and Head of Healthcare Property, and Joss Engebretsen, Portfolio Manager discuss the Barwon Disability Accommodation Fund’s performance over the September quarter.
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Barwon will be hosting a webinar on Thursday, 21 September at 11am (AEST) on the development and outlook for the Specialist Disability Accommodation (SDA) sector with Joss Engebretsen, Portfolio Manager for the Barwon Disability Accommodation Fund. Joss will be joined by Laila Burnet, National Director – Health Aged Care & Seniors Living at M3 Property, and James Brennan, […]
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Barwon Investment Partners (Barwon), a leading alternative fund manager, is pleased to announce the successful settlement of three new assets totalling $31.25m gross asset value within the Barwon Disability Accommodation Fund’s (Fund) portfolio. All three operating properties were acquired with fixed rent head leases in place and collectively will provide accommodation for 41 individuals with […]
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