Hunter Ferdinand cashes out medical centre portfolio
A medical centre portfolio with 14 assets, in Sydney, the Central Coast and regional New South Wales, has sold for a total of $100.343 million.
Hunter Ferdinand Property Group was the seller.
Most of the properties are occupied by PRP Diagnostic Imaging.
Bought by separate parties – many last year – the lowest yield was 4.97 per cent.
CBRE’s Yosh Mendis, Geoff Sinclair, Luke Easton, Sam Mulcahy and Darren Beehag were the agents.
Healthcare sell-off
The assets span Sydney suburbs Blacktown, Denistone, Gordon, Hornsby and Westmead, and in regional and coastal NSW, Adamstown (pictured, top), Bathurst, Erina, Gosford, Maitland, Orange, Shellharbour, Tuggerah and Wollongong.
They were sold individually, with the lowest priced under $5m (continues below).
The Blacktown Medical Specialist Centre was the most valuable, achieving $19.55m last October.
“The Hunter Ferdinand held Diagnostic Imaging Portfolio is one of the most significant healthcare divestment campaigns the market has seen, and the results speak for themselves,” Mr Mendis said.
“Achieving over $100m across 14 individually transacted assets…reflects the extraordinary depth of investor appetite for premium medical real estate,” according to the executive.
Mr Sinclair added that every property attracted competitive bidding.
“What made this campaign particularly compelling was the breadth of investor demand we saw across every price point in the portfolio,” he said.
PRP Diagnostic Imaging’s parent company, Integral Diagnostics, is backed by IFM Investors and UniSuper, which collectively manage about $381 billion in assets.
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