The Centuria Heathley Direct Medical Fund No.2 is looking to raise funds to support its acquisition of healthcare properties through to December 2019.
The Fund Manager, Centuria Heathley Asset Management, has extensive experience in property management, and a track record across 41 property funds.The Manager's capabilities were recently bolstered with Centuria Capital Limited (ASX: CNI) acquiring a 63% interest in the Manager in September 2019, increasing its resources and network.
The Fund is looking to raise $42.2M to support its growth in a diverse healthcare portfolio:
- A portfolio of 15 healthcare assets valued at $273M, which is targeted to reach $300M by December 2019.
- Stable healthcare tenants with a portfolio occupancy of 99.7% and WALE of 7.9 years.
- The Manager is targeting distributions of 6.76 cents per unit in FY20, equivalent to a 6.6% yield (at 31 August 2019).
Core Property has rated the Fund as RECOMMENDED.