Barwon Disability Accommodation Fund settles on 10 x SDA apartments

June 7, 2022 / Healthcare Property

Barwon Investment Partners (Barwon) is pleased to announce its fourth transaction in the Specialist Disability Accommodation (SDA) sector, settling on 10 x SDA apartments and one onsite overnight assistance unit all of which are part of the Sky Gardens development in Ryde, NSW.

These apartments are designed to support National Disability Insurance Scheme (NDIS) participants with an SDA design standard of High Physical Support, along with the best of modern living to ensure all tenants can live comfortably. All apartments include the latest assistive technology and innovative design solutions to ensure residents are well looked after and able to live independently. The 11 apartments are situated throughout the complex, providing integration into the local community for residents.

Located in the highly desirable area of Sydney’s north-west, the Sky Gardens apartments were secured with 100% occupancy and a three person wait list for future residency. All of these SDA apartments include a 10 year pass-through lease with Sydney-based SDA provider, AccessAccom.

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This is the fourth acquisition for the Fund in the past six months which brings the total portfolio to 37 dwellings, supporting more than 50 people living with a disability. Joss Engebretsen, Portfolio Manager-SDA at Barwon said, “Our latest acquisition is a prime example of the investment grade properties in which we invest. We strive to not only source quality accommodation for residents, but partner with top-tier disability service providers like AccessAccom, our SDA partner, and Northcott, the SIL providing concierge services, which offer a great opportunity for residents to live as independently as possible.”

The Fund continues to receive strong investor support with a recent capital raise closing in line with Barwon’s expectations.  $30 million was secured from new and existing investors, the second raising for the Fund which launched in August 2021.The recent capital raise will see investors’ capital called progressively over the next six months which will fund the strong pipeline of acquisitions under review.

The NDIS anticipates that more than $5 billion in capital will need to be invested into SDA over the next five years and Barwon believes this is a role private capital can and should play. With a change in government occurring in May, it is pleasing to see the NDIS continues to receive strong bipartisan support with total government funding for SDA properties expected to grow from $230 million p.a. at present to around $700 million p.a. when all participants are accommodated.

If you would like to find out more about this property acquisition or would like to know how to invest in the Barwon Disability Accommodation Fund, please contact Kate Hayward or call +61 407 071 404.

About Barwon Investment Partners
Barwon Investment Partners is an Australian fund manager with a 15+ year track record of generating strong investment returns for institutional and wholesale clients. Barwon is independently owned with an experienced team of over 40 investment professionals focused on healthcare property, property finance and global investments.

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