Centuria Opens Healthcare Property Fund for Investors

Centuria have opened their Healthcare Property Fund to raise capital from wholesale investors.

The Centuria Healthcare Property Fund is an open-ended unlisted property fund which seeks to provide investors with access to a diversified portfolio of healthcare and aged care properties.

The Fund was established in September 2020 and has an investment portfolio of $349.8M. The portfolio provides a diversified exposure to healthcare and aged care properties, with:

  • 16 properties valued at $339.7M (as if complete value) as well as a $10.1M investment in the related Nexus Property Unit Trust (NPUT), which is a co-owner in four assets that are anchored by Nexus Hospitals,
  • 99% occupancy with a long Weighted Average Lease Expiry (WALE) of 11.5 years,
  • well diversified by location and tenant income, with a weighting to hospitals and surgery 44%, mental health 16%, specialists 14% and other 26%.

The portfolio is expected to grow over time as Centuria intends to acquire additional properties to provide further scale and diversification for the Fund.

The fund will provide monthly distributions forecast to deliver a 5.4% yield on the current issue price.

The Fund has debt facilities totalling $170M, with ~$40M of undrawn debt which may be used to fund further acquisitions. The portfolio has a Loan-To-Valuation Ratio (LVR) of 44.1%, which sits comfortably at the mid-point of the target range of 35% – 49%, and below the bank LVR covenant of 55%

Further information on the Fund is outlined below for Premium Members. If you would like more information, please complete the registration form on the right.

Further content hidden for Premium Members Only (click down arrow)

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About Warwick Petschack

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

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