Centuria has spent $57.3 million on three private medical centres.
The assets will be held by the eight month old Centuria Healthcare Property Fund – now comprising 10 fully leased properties worth a total of $219.9m.
The trust’s Weighted Average Lease Expiry has increased to 6.4 years.
Centuria closed a second capital raising in December substantially oversubscribed; the next has a $22m bookbuild.
The manager said it chases modern purpose-built assets which lend themselves to efficient and effective models of care.
The three properties
In New South Wales, the group spent $23m on Coffs Harbour Specialist Centre at 343 Pacific Highway (pictured, top).
With 3400 square metres of lettable area, anchored to the state government’s Mid Coast Local Health District, this property neighbours Coffs Harbour Health Campus which is undergoing a $194m expansion and refurbishment.
In Queensland, CHPF will pay $21.6m for Cairns Day Surgery – a short-stay hospital at 156-160 Grafton Street with 2470 sqm over two floors.
This property is in a medical precinct, near Cairns Private Hospital and the public Cairns Hospital (story continues below).
About 30 kilometres north of Brisbane, Centuria is picking up the Murrumba Village Medical Centre at 1613 Anzac Avenue, Murrumba Downs, for $12.7m.
Due for completion in March, 2022, this two storey 1822 sqm asset will provide ancillary health services.
Priceline is the anchor and there are 64 car parks.
Healthcare portfolio worth $1b
Centuria Healthcare managing director Andrew Hemming said CHPF demand has been strong.
“These new transactions align to our strategy, enabling us to deliver monthly income returns to our investors,” the executive added.
“Since the fund’s launch, it has raised $107m”.
The trust is targeting a 5.75 per cent distribution with the potential for capital growth.
Centuria controls $1 billion of Australian healthcare real estate, it added.