Tom Patrick
Head of Healthcare Property, Partner
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Fund Overview
The Barwon Disability Accommodaiton Fund is an open-ended fund focused on acquiring and developing high quality Specialist Disability Accommodation (SDA) across Australia.
SDA is a range of specialist housing designed for people with extreme functional impairment or very high support needs. In 2016, legislation was introduced under the National Disability Insurance Scheme (NDIS) to provide government funding and encourage private investment to develop, own and operate this specialist form of residential accommodation. Designed to cater to the needs of those with extreme functional impairment and high support needs, when an SDA funded participant occupies an SDA property, their rent is paid for by the NDIS.
The Fund provides investors with an opportunity to earn attractive risk-adjusted returns via a diverse portfolio of development and income-producing enrolled SDA properties. The Fund willl own a mix of standalone homes, clusters of townhouses or villas, and seletive apartments projects with a focus on locations with high amenity in Australian metropolitan areas and major regional centres.
Investment Strategy
The Fund seeks to provide investors with distributions of 5% – 7% p.a. paid quarterly, with further potential for capital growth,
The Fund will principally acquire existing income producing properties however has the ability to enter into forward purchases or build-to-own development activities in order to secure high-quality projects.
Barwon’s Investment team has a very diligent approach in assessing its pipeline of high-quality off-market opportunities diversified across different geographies, building types and NDIS participant categories. All assets are located in Australia in metropolitan and major regional locations.
The Fund’s pipeline is strong with high quality off-market opportunities spread across different geographies, building types and NDIS participant categories.
All assets are located in Australia in metropolitan and major regional locations
Key Features of the Fund
The gap between the demand and supply of high-quality, well-located and new build fit-for-purpose specialist disability housing creates significant opportunities for appropriate private sector returns
Attractive yields of 5%-7%
Favourable risk profile
Income backed by Federal government funding; downside protected with alternate residential conversion
Long WALEs with inflation-hedged income streams
Low correlation with other property sectors
Socially conscious outcomes - Empower the lives of those living with disabilities by providing and managing accommodation appropriately designed to improve residents quality of life.
Unit Price and Performance
As at 31 March 2023
| Fund Name | NAV Price | Income Return ITD p.a. | Capital Return ITD p.a. | Total Return ITD p.a. | Fund Inception |
|---|---|---|---|---|---|
| Barwon Disability Accommodation Fund | 1.0080 | 2.10% | -0.99% | 2.02% | 1-Aug-21 |
Disclaimer
Investment Team
Selection of Fund Properties
Dandenong, VIC
- 15 x SDA apartments designed to High Physical Support (HPS standard)
- Onsite Overnight Assistance accommodation
- Fully leased
- SDA Provider: Zenitas
- Due for completion July 2023
Ryde, NSW
- 10 x SDA apartments designed to High Physical Support (HPS standard)
- Onsite Overnight Assistance accommodation
- Pass-through lease
- Settled: March 2022
- SDA Provider: Access Accommodation
Arana Hills, QLD
- 4 x SDA apartments designed to High Physical Support (HPS standard)
- Onsite Overnight Assistance accommodation
- Pass-through lease
- Settled: February 2022
- SDA Provider: NDISP
Barwon is seeking to be at the forefront in clean energy management and development of healthcare real estate assets within Australia, a sector that has traditionally lagged other sectors such as office and retail in regards to emissions reduction strategies and management.
Environmental
Barwon is implementing a range of management and technology initiatives to reduce carbon emissions and to implement more environmentally sustainable operating solutions.
Barwon is actively exploring opportunities to install solar power systems to supplement existing power sources in its larger properties. This aims to reduce fossil fuel power reliance and provide energy savings for our tenants.
Social
The Fund aims to improve the lives of our residents, people with disabilities that mean they have extreme functional impairment or very high support needs, by owning best-in-class SDA properties that promote a resident’s independence, access to community and dignity. Overall the SDA sector is aiming to house the estimated 28,000 Australians that will require disability accommodation.
Governance
The Fund partners with sophisticated Supported Independent Living (SIL) and SDA providers who are committed to instilling best-practice into their operations and focused on maximising participant outcomes. The Fund also employs good governance across its investing and risk management activities through Barwon’s Investment Committee, Risk Officer and ESG Committee.
News & Insights
Watch Tom Patrick, Head of Healthcare Property, as he discusses Barwon’s perspective on the emerging Specialist Disability Accommodation and Healthcare Property sectors with Marcello Caspani-Muto from CBRE.
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Tom: Hello and welcome to another quarterly update from the Barwon Healthcare Real Estate Team.
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Joss Engebretsen, Portfolio Manager – Specialist Disability Accommodation (SDA), recently sat down with Minh Le of the SDA Housing Podcast to discuss the Barwon Disability Accommodation Fund, investing in the SDA sector, and why SDA is an ‘up and coming’ sector of the property market.
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Barwon Investment Partners (Barwon) is pleased to announce that the Barwon Healthcare Property Fund (BHPF, Fund) has received a six-star NABERS energy base building rating for its mental health facility located in Logan, Queensland.
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We are pleased to announce that Canberra’s first adolescent mental health hospital in the Deakin medical precinct in on track to open in January 2023. On completion, ‘Deakin Private Hospital’ will be a fully-integrated inpatient, day patient and outpatient mental health hospital; inclusive of state-of-the-art technology to support improved experience and care, for both patients […]
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Tom:Â Hello and welcome to our latest Healthcare property update from Barwon Investment Partners.
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Nina:Â Hello and welcome to our Fund update on the Barwon Disability Accommodation. My name is Nina Dunn and today I am joined by Joss Engebretsen who is the portfolio manager for the Barwon Disability Accommodation Fund.
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Barwon Investment Partners (Barwon) is pleased to announce that the Barwon Institutional Healthcare Property Fund (BIHPF, Fund) has been awarded a Green Star rating, the first Australian healthcare portfolio to be certified by the Green Star performance tool.
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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.
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Barwon Investment Partners has swooped on four properties, worth $45 million in total, in Queensland and Western Australia, as it steadily expands its unlisted Barwon Healthcare Property Fund. The latest transactions take the fund’s portfolio to about $546 million and comes as institutional investment into real estate dedicated to medical uses gains momentum. Read more […]
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Barwon is pleased to announce that the Barwon Disability Accommodation Fund (Fund) has acquired 10 x Specialist Disability Accommodation (SDA) apartments plus a carer’s unit as part of Sky Gardens development in Sydney, NSW. This is the fourth acquisition for the Fund in 6-months and brings the portfolio up to 37 dwellings supporting +50 People […]
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Barwon Investment Partners, a fund manager that invests in medical real estate, has taken over a large hospital car park and healthcare asset in inner-city Brisbane in a deal worth close to $100 million.
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