This article originally appeared in The Market Herald.
Centuria’s unlisted healthcare fund has sold two healthcare ventures to Real Asset
Management (RAM) for roughly $16 million.
Following an expression of interest campaign for the portfolio conducted by CBRE’s Sandro
Peluso, Derek Barlow, Marcello Caspani-Muto, and Jimmy Tat, RAM bought tenanted
properties in Secret Harbour, Western Australia, and Mildura, Victoria.
Both properties have 1608-square-meter structures on 951-square-meter grounds, with
equivalent weighted average lease expiry periods of more than six years.
Care Medical Group, Oasis Pharmacy, and Complete Range Physiotherapy occupy 2 Clarkshill
Road in Secret Harbour, while Tristar Medical Group and Mildura Optical are tenanted at 87-89
Langtree Avenue in Mildura.
“Our team has seen a shift in investor appetite, in WA and across the country, for healthcare
investments,” Mr Barlow said.
“Traditional ‘core’ investors are increasingly looking to diversify their holdings with the
acquisition of one or multiple properties within the space. This demand can also be seen with a
number of recent and forthcoming floats for A-REITs starting highly-specialised funds within the
healthcare space.”
Secret Harbour is around 60 kilometres south of Perth, whereas Mildura is a rising regional city
in northwest Victoria on the banks of the Murray River.
“These acquisitions are highly-strategic, with both properties anchored by leading local
healthcare providers who have good reputations within their communities, which are relatively
remote by metropolitan standards,” Mr Caspani-Muto said.
“The events of the past 18 months have acted as a catalyst for investor and developer interest
towards the healthcare sector, with the phrase ‘recession proof’ proving incredibly accurate
given the strength, unwavering operational activity and multiple market-defying transactions in
the space.”