Barwon Investment Partners (“Barwon”) is pleased to announce the successful completion of the first acquisition of the Barwon Healthcare Property Fund. The Fund’s first asset is a multi-let primary care facility in Victoria with a strong tenancy profile and a WALE in excess of 7 years.
The Fund, which is unlisted and open to wholesale investors, plans to acquire over $100 million in healthcare real estate assets within Australia over the next 3 years. The Fund’s strategy is focused on providing investors with strong total returns underpinned by an attractive quarterly distribution yield. Investments will encompass healthcare properties including medical centres, diagnostic and laboratory facilities, private hospitals and ancillary healthcare property assets.
Barwon Investment Partners’ Director, Rob Morrison, comments:
“We see great opportunities in the healthcare real estate sector in Australia, with healthcare real estate having outperformed the direct property market over the last 5 years. Healthcare spend constitutes nearly 10% of Australia’s GDP, however the sector is often over looked by institutional real estate participants. Our team has an in-depth knowledge of the healthcare sector, combined with a deep understanding of property funds management. We will be acquiring quality assets that meet our stringent due diligence hurdles as well as seeking to partner with key healthcare tenants and operators to support their expansion with specialist real estate capital.
We are pleased to have secured our first investment in the Fund and we are actively assessing new opportunities for our investors.